1. The Court: This is an application by Oil & Natural Gas Corporation Ltd. in short ONGC for setting aside an award dated June 10, 1995.

2. Principal grounds for setting aside of the said award in short are :

(i) The arbitrators in making the said award manifestly disregarded the express terms of the contract dated 26th December, 1988 as varied by an Addendum dated 30th Nov. 1989.

(ii) The arbitrators travelled beyond and outside the bounds of the said contract and acted without jurisdiction thereby misconducted themselves.

(iii) The award is based on erroneous finding of facts which is apparent on the face of the award itself.

(iv) The arbitrators arrived at erroneous conclusions of law from the admitted facts thereby misconducted themselves.

(v) In examining the provisions of the contract the arbitrators reached at incorrect and erroneous conclusions which are apparent from the award and the documents expressly referred to and relied therein and adjudicated beyond the contract.

3. By a contract in writing dated December 26, 1988 the respondent agreed to let on hire the following equipments :-

(i) Production Testing and Wireline Services (PTS & WL);

(ii) Nitrogen (N2);

(iii) Coil