(1.) This appeal has been filed against the order of the Subordinate Judge Ist Class, Chandigarh, dated 26.11.1987 setting aside the Award of the Arbitrator.
(2.) The brief facts leading to the filing of the appeal are that the petitioners offered a bid of Rs. 10,10,000/for purchasing shop-cum-office site No. 853 in an open auction held on 6.10.1982 conducted by the Notified Area Committee, Mani, kajra respondent and deposited a sum of Rs. 1,01,000/- as 10 per cent of the bid money. The remaining amount of 15 per cent was to be deposited within 30 days from the date of auction and thereafter the rest of the amount was to be given in instalments. Admittedly, the petitioner did not make a deposit of 15 per cent of the bid amount within the stipulated period of 30 days leading to an order passed by the President of the Notified Area Committee forfeiting the entire amount, that is, Rs. 1,01,000/-. In revision petition under section 232 of the Punjab Municipal Act, the Deputy reduced the forfeiture amount to 10 per cent. The Notified Area Committee did not allow the refund and, therefore, a dispute having arisen, the same was referred to the Arbitrator under Clause 17 of the terms and conditions of the allotment. The Deputy Commissioner entered upon the reference and after' discussing the relevant facts ordered the forfeiture of 10 per cent of the money which was deposited at the time of fall of hammer, that is, Rs. 1,01,000/-. The operative part of the Award reads as under:
(3.)