(1.) This is an application for setting aside of an award under Sec. 34 of the Arbitration and Conciliation Act, 1996.
(2.) The respondent (IRCON International Ltd.) was awarded the contract by National Highway Authority of India (NHAI) for four laning and strengthening of the existing two lanes highway section from 115 KM. to 158 K.M. on the National Highway-2 in Uttar Pradesh.
(3.) The respondent entered into a contract with the petitioner for earth work, GSB, WMM and other civil works between 129 KM. to 145 KM. The original contract price was Rs.14,69,53,061.00 and the same was subsequently reduced to Rs.10,76,96,821.00.