CR 49 of 2002. 20.3.2009 Present: Mr. J.S.Bhogal, Sr. Advocate, with Mr. Suneet Goel, counsel for the petitioner. Ms. Ruma Kaushik, Addl. AG, for the respondents. Heard learned counsel appearing for the parties. It is undisputed before me that provision of law, that is Section 31 (7) (b) of the Arbitration and Conciliation Act, 1996 has been interpreted by a Division Bench of this Court in Arbitration Appeal No. 3 of 2009, H.P. Krishivishva Vidyalaya, Palampur v. Kulbhushan Sood, decided on 18.3.2009 holding therein that the statutory interest @ 18% per annum is payable under the Act in execution proceedings. This revision is disposed of accordingly and shall abide by the decision and directions contained in Arbitration Appeal No. 3 of 2009, H.P. Krishivishva Vidyalaya, Palampur v. Kulbhushan Sood, decided on 18.3.2009. March 20, 2009 (PC). (Dev Darshan Sud), J.