(1.) BOTH petitions under Section 34 of the Arbitration Act, 1996 arise out of a common arbitral award dated 31st July, 2000 in the claims preferred by each of the petitioners against the respondents (common in both the cases ). The petitioners had before the arbitrator, preferred claims, besides against the respondents, also against M/s Ganga automobiles Ltd. (which is not a party hereto ). Identical questions being involved in the two petitions, they are taken up together for consideration.
(2.) TO appreciate the challenge to the arbitral awards, it is deemed expedient to set out certain facts.
(3.) ON 14th February, 1997 the following documents were executed in each case:-