(1.) The appellant has filed this appeal against the judgment of the learned Judge dated 19.8.1996 in O.P.164 of 1995. The said O.P was filed by the respondent herein for setting aside the award of the Arbitrator, wherein the relief was granted in favour of the appellant.
(2.) The short facts necessary for the disposal of the appeal are: The appellant entered into a contract with the respondent Board on 30.3.1989 for the construction of an office-cum-shopping complex at Thirumangalam, Chenai – 40 at a cost of Rs.1,05,84,106/-. As per the terms of the contract, the work was to be completed in 15 months i.e., on or before 19.6.1990. Admittedly the appellant did not complete the work within the stipulated time and the construction was completed only on 31.10.1991. On 24.3.1992 the appellant received a sum of Rs.5,48,916-15 in full settlement of all demands on account of the contract.
(3.) Subsequent to the receipt of the amount, the petitioner moved this court for the appointment of an Arbitrator to go into the enhanced claim made by the appellant. This court appointed an Arbitrator by order dated 7.1.1994 in Application No.4329 of 1993.