(1.) THE petition is directed against the award dated 17-8-1996 passed by the Sole Arbitrator awarding the claim in favour of the Commander Works Engineer (Naval Works), Dr. Homi Bhaba Road, Colaba, Mumbai 400 005 on behalf of Union of India.
(2.) IN order to appreciate the grievance of the petitioners against the said award, few relevant introductory facts need to be noticed at the outset.
(3.) THE petitioners, pursuant to the tender invitation had submitted their tender bid for the works for providing the furniture for Office, Library, Lecture hall-cum-auditorium for Building No. 3-6 at Karanja. The bid submitted by the petitioners came to be accepted. In pursuance thereof the work order came to be issued in November 1988 and formal contract came to be executed between the parties in due course.