JUDGMENT - Dr. CHANDRACHUD D.Y., J.:---Admit. The learned Counsel for the respondents waives service. By consent taken up for hearing and final disposal.

2. The arbitration petition in these proceedings under section 34 of the Arbitration and Conciliation Act, 1996 seeks to impugn an Award of a sole arbitrator, dated 23rd March, 2002. The sole arbitrator in the present case was an Additional Director General, Works, Pune.

3. In August 1996, the petitioners invited tenders for providing accommodation for 42 officers at Colaba by the construction of a building consisting of a ground and six upper floors together with related work. The tender submitted by the first respondent was accepted on 19th September, 1996. An agreement was entered into between the parties. Under the contract as originally executed, the work was required to be completed on or before 11th May, 1998. By a letter dated 30th April, 1998, the first respondent sought extension of time to complete the work. The petitioners granted an extension until 22nd November, 1998 by a letter dated 5th August, 1998. In so far as the facts of the present case are concerned, it would be material to note that the letter of approval r

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