MADHAV STRUCTURAL ENGINEERING LTD, Vs. MAHARASHTRA STATE ROAD

JUDGEMENT

(1.) The Petitioner, represented by its Constituted Attorney, Mr Rakesh Chavan appearing pro se, challenges an arbitral award dated 17th December 2016 by a sole arbitrator.The challenge is mounted principally under Section 34(2A) and Section 34(2)(b)(ii) of the Arbitration & Conciliation Act , 1996.

(2.) This Court admitted the Petition on 13th December 2017.Having now heard both sides and carefully considered the material on record, in my judgment, the Petition must fail.I have dismissed the Petition.My reasons follow.

(3.) The Respondent, the Maharashtra State Road Development Corporation Ltd ("MSRDC"), a government-owned company, invited tenders for upgrading and improving a 49.90 km stretch of the Loni-Nagzari-Kherda-Karanja road corridor to National Highway standards.The Petitioner, Madhav Structural Engineering Ltd, placed the winning bid of Rs.15.56 crores -- MSRDC accepted its bid on 2nd February 2001.A work order of 2nd March 2001 followed.The project completion period was 24 months.The contract works had to be completed by 1st March 2003.The contract specifed certain milestones.The Petitioner had to be meet these, i.e.it had to complete specifed works by scheduled dates.