Judgment :-

Tarun Chatterjee, J.

1. On or about 14th of December, 1983, a tender was floated by the U.P. Cooperative Federation Ltd. (hereinafter referred to as "the Federation") for construction of 4000 Metric Ton cold storage at Vashi, New Mumbai. The tender document mentioned the time of completion as twelve months. M/s Three Circles -the respondent herein, submitted a tender to get the contract. In the year 1984, a contract was executed with M/s Three Circles. Clause 10[f] of the Contract Agreement reads as follows:

"It is further agreed that all disputes or differences arising out of the provisions as contained in the preceding paragraphs, [a] to [f] of Clause 10 shall be referred to the Managing Director of Employer, whose decision shall be final, conclusive and binding and shall not be referred to arbitration or to any court of law."

Clause 11 of the contract reads as follows:

"All disputes and differences between the parties regarding the construction or interpretation of any of the terms and conditions herein contained or conditions of contract being the integral part of this contract [except those which are subject matter of the decision of Managing Director of the Employe