( 1 ) THIS is an application under S. 34 of the Arbitration and Conciliation Act, 1996. Section 34 of the Act speaks for certain conditions under which the recourse of the Court against an arbitral award may be obtained by way of making an application for setting aside the arbitral award. At the inception it is to be said that unlike the Arbitration Act, 1940, scope and ambit of setting aside the Arbitrator's award under the new Act is very limited. It operates as good as decree. Therefore, the Court would be very slow in interfering with it unless an exceptional circumstances exists which can lead to a position of nullifying the claim. This is settled principle of law that unless and until the award seems to be bad from the fact of it, it should not be interferred with as an appeal from such award to adjudge the mental process of the Arbitrator. Such well settled principle of law practically codified by giving a rigid parameters of consideration under new Act so that the Court may not be unnecessarily burdened with such litigations when the parties themselves choose their own forum.

( 2 ) THE fact remains that by consent of the parties, this Court was pleased to