Dr. B.P. Saraf, J. - This is a petition under sub-section (6) Section 11 of the Arbitration and Conciliation Act, 1996, ("Act") for appointment of arbitrators to adjudicate the disputes and differences between the parties arising out of contract agreement dated 10th May, 1991 for construction of major bridges.

2. The material facts, briefly stated, are as follows:

Under contract dated 10th May, 1991 between the petitioner company and the respondent Konkan Railway Corporation Limited, the petitioner company was to undertake construction of the railway bridges set out therein. The case of the petitioners is that due to various circumstances, for which the respondent Corporation was solely responsible, there was delay in execution of the work. The further case of the petitioners is that several items of extra work were also carried out by the petitioners under instructions of the respondents. The petitioners claimed a sum of Rs. 38,17,795/- on that account. This claim having not been settled and disputes and differences having arisen between the parties on that account, the petitioners, by their letter dated 19th February, 1996, submitted their claim to the Chairman & Managin