(1.) This petition under Section 34 of the Arbitration & Conciliation Act, 1996(hereinafter referred to as `the Act') challenges by way of these objections the Award dated 31st December, 2003, passed by the Sole Arbitrator. The arbitrator in question is the maternal grandfather of the petitioner and the respondent, who are sisters and had lost their parents and another sister in an unfortunate accident.
(2.) The award is challenged by the petitioner on the following grounds:-
(3.) The submissions of the respondent's senior counsel, Shri P.V. Kapur about the memorandum of agreement dated 21st June, 2003 are as follows:-