[Indian Institute of Technology - Gandhinagar\
Ahmedabad, Gujarat 382424\
India]{}

Introduction {#introduction .unnumbered}
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Observations of type IA supernovae confirms that our present universe is expanding at an accelerating rate [@f1]. Present observational cosmology has provided enough evidence in favour of the accelerated expansion of the universe [@f2; @f3; @f4]. Theoretical aid came in the form of exotic Dark Energy (DE) which can generate sufficient negative pressure and is believed to account nearly 70% of present energy of the universe. Researchers in theoretical physics have proposed many DE models but they face problems while incorporating the history of the universe. The models generally have many free parameters and face serious constraints from observational data. Recent reviews [@f5add; @f5; @f6; @f7; @f7add] are useful for a brief knowledge of DE models.

The holographic DE is one of the promising DE model and the model is based on the holographic principle [@f8; @f9; @f10; @f11; @f12]. Bekenstein’s entropy bound suggests that quantum field theory breaks down at large volumes. This can be reconciled by using a relation between UV and IR cutoffs such that $L^3 \Lambda^4 \leq L m_p^2$ where $m_p$ is the reduced Planck Mass ($m_p^{-2} = 8\pi G$). In this 