Background and Prior Proceedings The case centered on the execution of an Arbitral Award dated September 26, 2000, which had undergone a complex series of judicial modifications 3 . Initially, the Award directed the Judgment Debtor (BSNL) to pay the Decree Holder (BWL Limited) a sum of Rs. 6,07,56,342/-, inclusive of interest at 18.5% per annum compounded quarterly. The Award was subsequently set aside by a Single Judge of the Calcutta High Court under Section 34 of the Act.