TIRATH ENGINEERS Vs. UNION OF INDIA AND ANR

JUDGEMENT

(1.) Both the parties have challenged the impugned award dated 23rd December, 2008 by invoking Section 34 of the Arbitration and Conciliation Act, 1996 (for short, "The Arbitration Act"), though the arbitration proceedings based upon the agreement between the parties dated 1st December, 1987 commenced on 24th January 1996, under the old Arbitration Act of 1940. But, ultimately the award published on 23rd December, 2008 by the umpire/ arbitrator.

(2.) The basic events are-

(3.) On 27/8/1987, the Respondent had invited tenders for the work of construction of various structures in connection with providing facilities for ROH repairs to tank wagon with roller bearing in sick lines at Karachiya yard. The contract for said work was awarded to the Petitioner vide acceptance letter bearing No. Dy.CE/S & C/92 dated 27/8/1987. The cost of the work was Rs. 19,71,888.45/-with completion period of 12 months i.e. 26/8/ 1988 from the date of letter of acceptance.