NATIONAL HIGHWAYS AUTHORITY OF INDIA Vs. NCC-VEE

JUDGEMENT

(1.) THIS appeal has been filed against the impugned judgment dated 17.12.2014, whereby a learned Single Judge of this Court dismissed the objections under Section 34 of the Arbitration and Conciliation Act 1996 (hereinafter referred to as "the said Act?), which had been preferred by the appellant. The objections were in respect of the award dated 24th November, 2012.

(2.) WE need not go into the details, as the same have been set out in the impugned judgment. The only point of controversy is with regard to the note after sub para (xi) of sub clause 70.3 of the conditions of particular application. The controversy was with regard to the manner, in which the price adjustment was to be given to the respondent. Elaborate formulae have been prescribed in the said sub clause 70.3 for adjustments of the labour component, the cement component, the steel component, the plant and machinery and spares component, the bitumen component and adjustment of other local materials.

(3.) SUB para (xi) of sub clause 70.3 reads as under: <FRM>JUDGEMENT_376_LAWS(DLH)3_2015.htm</FRM>