(1.) Heard learned counsel for the appellants and the Respondents.
(2.) This is an appeal under section 39(1)(vi) of the Arbitration Act, 1940 by the defendant / objector against the judgment and decree dated 11.08.2003 / 25.08.2003 passed by the learned Sub-Judge-VII, Ranchi in Arbitration Tittle Suit No. 64/1994, whereby the Award dated 15.09.2002 has been upheld and the Misc. Case No. 1/2003 has been dismissed. The award was submitted before the court on 27.01.2003.
(3.) The case of the parties, as pleaded before the learned Arbitrator briefly stated, is as follows: