R S DEVELOPMENT AND CONSTRUCTIONS INDIA (P) LTD Vs. NEYVELI LIGNITE CORPORATION LTD , EVR HIGH ROAD CHENNAI

JUDGEMENT

(1.) Instant application, which has been given the nomenclature 'Original Petition' ('OP' for brevity), has been filed under Section 34 of 'The Arbitration and Conciliation Act, 1996 (Act 26 of 1998)', hereinafter 'A and C Act' for brevity, assailing 'an arbitral award dated 14.09.2013 with a correction dated 04.11.2013 under Section 33 of A and C Act' (hereinafter 'impugned award' for the sake of brevity and clarity). Impugned award has been made by an 'Arbitral Tribunal' ('AT' for brevity) constituted by three arbitrators and the impugned award has been rendered by 2:1 majority.

(2.) Nucleus of the lis qua impugned award is a contract dated 10.05.2010 and this Court is informed that the value of this contract is little over Rs.6.24 Crores (Rs.6,24,69,889/- to be precise). This contract shall hereinafter be referred to as 'said contract' for the sake of clarity. This said contract is for work of construction of roads numbering about 25 having various lengths, varying between 60 and 290 meters with the exception of two roads where the lengths are 1000 and 2300 meters. This Court is informed that said contract includes drain works, which involves construction of drains on either side of the small roads.

(3.) Said contract was preceded by a letter of award dated 05.02.2010 and the work had to be completed within 18 months from the date of letter of award i.e., by 04.08.2011.