( 1 ) THE petitioner is a railway contractor. According to him second respondent awarded contract for construction of retaining wall in place of damaged and leaning retaining wall between Makudi and Sirpur Town (Down Line) on 8. 12. 1995. Whatever be the reason the petitioner could not complete the work within stipulated time and railways authorities did not grant any extension. The petitioner again sent a communication on 10. 5. 2001 as well as on 15. 6. 2001 requesting the second respondent to make urgent arrangement for completion of work in vain. Therefore, he requested the second respondent to finalise the contract and release final amounts including security deposit and earnest money deposit. As he did not give a favourable reply, petitioner addressed second respondent on 11. 12. 2001 to refer the matter to arbitration. As there is no response, petitioner initially filed application under subsection (6) of Section 11 of the Arbitration and Conciliation Act, 1996 (for short, the act) being Arbitration Application No. 70 of 2002. At the time of preliminary hearing said Arbitration Application was dismissed as withdrawn presumably for the reason that the value of