CLIAMS:We claim:
1. A method for producing an aluminium based alloy, said method comprises acts of:
a. casting of the aluminium based alloy in a chilled casting mould;
b. aging the cast aluminium based alloy at first predetermined temperature for a first predetermined time, wherein the aging results in the formation of first precipitate;
c. solutionising the aluminium based alloy at second predetermined temperature for a second predetermined time; and
d. aging the aluminium based alloy at a third predetermined temperature for a third predetermined time, wherein the aging results in the formation of a second precipitate.

2. The method as claimed in claim 1 optionally comprise an act of cold working of the aluminium based alloy between step a and b.

3. The method as claimed in claim 1 comprises an act of fast cooling of the aluminium based alloy after steps b, c and d.

4. The method as claimed in claim 3, wherein the fast cooling is done by at least one of quenching in water bath, and any fast cooling technique.

5. The method as claimed in claim 1, wherein the casting mould is chilled copper mould.

6. The method as claimed in claim 1, wherein the first predetermined temperature ranges from about 3500C to 4500C, and the first predetermined time ranges from about 5 hours to 40 hours.

7. The method as claimed in claim 1, wherein the second predetermined temperature ranges from about 5250C to 5450C, and the second predetermined time ranges from about 15 minutes to 60 minutes.

8. The method as claimed in claim 1, wherein the third predetermined temperature ranges from about 1500C to 2500C, and the third predetermined time ranges from about 2 hours to 30 hours.

9. The method as claimed in claim 1, wherein alloying elements optionally along with incidental elements of the alloy are melted by arc melting for casting the ingot of the aluminium based alloy.

10. The method as claimed in claim 9, wherein the alloying elements are selected from a group comprising Aluminium (Al), Copper (Cu), Zirconium (Zr), Niobium (Nb), Hafnium (Hf), Vanadium (V), and combination thereof.

11. The method as claimed in claim 9, wherein the incidental elements are selected from a group comprising Titanium, Chromium, Manganese, Iron, Silicon, and combination thereof.

12. An aluminium based alloy comprising:
Copper (Cu) at about 4 wt% to about 6.5 wt%;
Zirconium (Zr) at about 0.3 wt% to about 0.5 wt%; and
at least one transition metal selected from a group comprising
(a) Niobium (Nb) at about 0.3 wt% to about 0.5 wt%;
(b) Hafnium (Hf) at about 0.3 wt% to about 0.6 wt%; and
(c) Vanadium (V) at about 0.18 wt% to about 0.36 wt%;
wherein the balance being aluminium (Al) optionally along with incidental elements of the alloy.

13. The aluminium based alloy as claimed in claim 12, wherein the incidental elements are selected from a group comprising Titanium, Chromium, Manganese, Iron, Silicon, and combination thereof.

Dated this 14th Day of February, 2014 GOPINATH A S
IN/PA 1852
OF K&S PARTNERS
AGENT FOR THE APPLICANT
,TagSPECI:TECHNICAL FIELD:
The present disclosure relates to a field of metallurgy. Particularly, the disclosure relates to the aluminum based alloys and a method of producing such aluminum based alloys.