JUDGMENT/ORDER

1. By this application filed under Sec. 11 of Arbitration and Conciliation Act, 1996( "the said Act" for short) applicant seeks an appointment of Arbitral Tribunal consisting of three Arbitrators for the purpose of resolving dispute that have arisen between the parties out of Contract dtd. 2/6/2018 which is in reference to the EPC Contract for De-Dusting System for Blast Furnace 2 Cast House, Ladle Dumping Chamber, Coal Handling Plant and Coke Screening Plant 1 and 2.

2. Since in terms of the said contract, time was essence for completion of the work and a specific schedule was fixed for completion of each stage of the work as provided therein, respondent were liable to perform their part within stipulated period.

3. During the correspondence between the parties, it was pointed out to the respondent that they failed to perform their part and within time framed, however, respondent turned a blind eye to such correspondence. Applicant then issued notice of termination of contract dtd. 8/12/2018 which was received by the respondent on 21/12/2018. In response, respondent acknowledged their fault but agreed to complete the work as mentioned in the amendment dtd. 9/1/2019,