PRESTRESS WIRE INDUSTRIES Vs. UPPAL BUILDERS PVT LTD

JUDGEMENT

(1.) This petition is under section 34 of the Arbitration and Conciliation Act 1996 (hereinafter referred as 'the Act') challenging the award dated 17.04.2017 passed by the sole arbitrator.

(2.) Vide an agreement dated 24.01.2009 M/s Prestress Wire Industries (the petitioner herein) had awarded the work of construction of factory building at Bajpur vide agreement dated 24.01.2009 amounting to '2,28,00,000/- to the contractor/the respondent herein who reduced its bid by 6.7% discount. Certain disputes arose between the parties and an arbitrator was appointed. The statement of claim was filed on 09.08.2012 and the statement of defense was filed on 04.12.2012. The claimant submitted its rejoinder on 26.02.2013 and evidence was recorded and thereafter an impugned award was given.

(3.) The stipulated date of commencement of work was 21.01.2009 and the stipulated time for completion was 180 days plus 15 days for additional mobilization.