Ashim Kumar Banerjee, J.

FACTS

On June 3, 1995 Steel Authority of India Limited (hereinafter referred to as SAIL) entered into a Charter Party agreement with Indian Cements Limited (hereinafter referred to as ICL) for importing coal from Australia . The vessel was to discharge cargo at four places in India including Paradip and Haldia. The dispute arose when the vessel arrived at Paradip Port on July 28, 1995 and completed discharge of unloading coal to the extent of 24,088 MT and leaving a balance quantity of 23,501 MT to be discharged at Haldia Port being the next port of discharge. At the time of unloading at Paradip Port, one of the cranes out of four cranes of the vessel had been found out of order for which SAIL calculated the lay time on pro-rata basis which ICL did not agree, that gave rise to dispute to be resolved through arbitration in terms of the arbitration clause stipulated in the Charter Party Agreement. Accordingly, the parties nominated their respective nominees in the Arbitral Tribunal. The Arbitral Tribunal held sittings at Delhi. The Arbitral Tribunal ultimately, published its award on September 6, 1999. SAIL was not happy with the award. SAIL challe