NCC LIMITED Vs. BHARAT HEAVY ELECTRICALS LIMITED

JUDGEMENT

(1.) THE respondent, vide its Letter of Intent dated 02.05.2006 awarded the contract for construction and performing the civil and architectural works for main plant of 2 x 120 MW expansion of captive power plant at Nalco, Angu, Orissa, to the petitioner for a fixed sum of Rs. 33,73,63,507/ - to be completed within 20 months from the date of start of the work. The contract was entered into on 19.12.2006.

(2.) THE petitioner claims that the work commenced at site on 15.04.2006 and thus, the work had to be completed by 10.01.2008. The period for execution of the contract was extended upto 30.11.2010, vide respondent's letter dated 12.11.2010.

(3.) THE arbitration clause reads as under: