(1.) The present appeal is directed against judgment, dated 24th January 2017, of the learned Single Judge in OMP 260/2015, which had been preferred by the appellant, under section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "the Act"), challenging Award, dated 29th November, 2014, as corrected on 15th December, 2014.
(2.) In 2004, bids were invited, by the appellant, for development of road connectivity to Paradip Port in Orissa. The respondent bid, and was awarded the contract, by the appellant, vide Letter of Acceptance dated 16th December, 2003, for a sum of Rs. 327,76,71,777/-. Pursuant thereto, contract agreement, between the appellant and the respondent, was signed on 29th of January, 2004. Work, under the contract, was to be completed within a period of 36 months from the "start date" of the contract. As per notice of commencement of the work, the date for starting the work was 19th February, 2004, so that the date of completion of the whole work, as originally stipulated, was 18th February, 2007.
(3.) The work was divided into 3 Milestones, in the following manner :
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