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Head Note

Indian Contract Act, 1872  - Section 59 , Section 60

As consent of Appellants not there, provisions of Section 59 and 60 of Indian Contract Act not attracted.

The Arbitration and Conciliation Act, 1996  - Section 34

Appropriation of Award - No agreement between parties as to how amounts to be paid in terms of Award were to be appropriated by Appellant - Unilateral assertion made by Respondent as debtor that money was being tendered as payment towards principal amount - Amount deposited accepted by Appellant without prejudice to its rights and contentions in appeal - Held, creditor cannot be denied its dues on a unilateral stipulation that amount was being deposited as against principal sum due in terms of award - Since amount was accepted by Appellant on protest it would be entitled to appropriate the same against interest which was due and payable till that date on principal amount. AIR 1922 PC 233 : AIR 1922 PC 26, relied.

The Arbitration and Conciliation Act, 1996  - Section 36

Whether Award of Arbitration tantamount to decree or not? - Held, language used in Section 36 makes it very clear that such an Award has to be enforced under Code of Civil Procedure in the same manner as it were a decree of Court.

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