Arbitration and Conciliation Act, 1996 Section 48 – Foreign award – Execution – Objections under Section 48 of 'the Act' came to be decided finally only on 01.07.2014 when the revision petition filed by the petitioner against dismissal of the objection petition under Section 48, was finally dismissed – A foreign award passed, which has been found to be binding and enforceable has to be given effect to - It will be totally inequitable for the decree-holder, if the relevant date for conversion from Euro to Rupee is with reference to any previous date before the date when the award was finally held to be enforceable by the Indian Courts - The requirement to convert the decretal amount into Indian Rupee is necessary – Relevant date of convension of Euro to rupees is the day when the objection under section was finally dismissed. (2018-2) PUNJAB LAW REPORTER 

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