(1.) By this appeal Jindal Drugs Ltd., (hereinafter referred to as the "appellants) impugns a judgment and order passed by the learned single Judge of this Court on 6.2.2002 in Arbitration Petition No.49 of 2000. By the said judgment and order the single Judge dismissed the petition filed by the appellants under Section 34 of the Arbitration and Conciliation Act 1996 on the sole ground that the same was not maintainable in law.
(2.) The brief relevant facts of the case are as under :-
(3.) On behalf of the appellants it was contended that the petition was dismissed by the single Judge by up-holding a preliminery objection raised on behalf of respondent no.1 to the effect that the petition was not maintainable in law. The preliminery objection which was raised on behalf of respondent no.1 was on the footing that section 34 fell in part I of the Arbitration & Conciliation Act 1996 and section 2(2), which also fell in part I provided as under :-