1. By this petition filed under section 34 of the Arbitration and Conciliation Act, 1996, (for short the said Arbitration Act), the petitioner has impugned the arbtiral award dated 2nd March, 2010 thereby allowing some of the claims made by the respondent no.1 and rejecting the counter claims made by the petitioner. Some of the relevant facts for the purpose of deciding this petition are as under:-

2. The petitioner was the original respondent to the claim made by the respondents and was claimant to the counter claim made by the petitioner. The respondents were the original claimants to the statement of claim and were respondents to the counter claim before the learned arbitrator.

3. The petitioner was nominated as the implementing agency for the Oil Palm Demonstration project of the Government of India. The petitioner had taken on lease several pieces of agricultural land from farmers in District Sindhudurg aggregating to about 1035 hectares of land for the purpose of planting nursery, growing oil palm trees and producing palm fruits. It is the case of the petitioner that the petitioner had completed the formalities of registration of lease deeds in respect of about 672 hect