(1.) Leave granted.
(2.) We are tempted to preface our judgment with the above quoted observations of this Court made by one of us, R. Mahadevan J., as the situation remains the same. The concerns articulated above continue to resonate with an undiminishing force in the present litigation as-well. The issues that have unfolded before us echo the very same judicial disquiet. Even with the passage of time, the challenges that beset the arbitral process persist in much the same form and complexity.
(3.) The respondent although served with the notice issued by this Court yet, has chosen not to remain present before this Court either in person or through an advocate and oppose this appeal.