ANOOP V. MOHTA, J.

This is an Appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (for short, “the Arbitration Act”) filed by the original Respondent-Billimoria & Co., challenging the Judgment of the learned Single Judge dated 27 October 2015 passed in Arbitration Petition filed under Section 34 of the Arbitration Act, whereby, the award passed by the learned Arbitrator dated 27 March 2014 in respect of the claim for wrong deduction of liquidated damages is set aside.

2. Based upon a tender for general building work and civil work in respect of a project called “Raheja Waterfront” on land admeasuring 45 acres situated at Kulai Village, Mangalore, the Respondent submitted its offer. Appellant issued a letter of acceptance on 3 March 2012 and work order on 13 March 2012. The terms and conditions including the reciprocal obligations, were defined. Both the parties acted upon the same accordingly. The parties exchanged various correspondences including emails with regard to the various issues relating to the delay in development, non-compliances as well as defective work. The Appellant-Raheja Universal, issued termination notice on 27 December 2012. There was