1. The river Hooghly, while flowing down the plains of Bengal towards the sea, has branched out, upstream of Chuchura in the Hooghly District, to form a beautiful island in the middle of the river, measuring about 75 acres. It is called “Sabuj Dweep”. It has trees and plants of many kinds and recreational facilities which attract thousands of tourists over the year. The land belongs to the Department of Tourism, Government of West Bengal. This department conceived of the idea of developing the island into a ecotourism resort. On 14th August, 2015 it entered into a contract with the petitioner which was described as a “concession agreement”. The petitioner was entrusted with the construction and development of a “project”, according to the plans, designs and project report prepared by the respondent, taking all the approvals, permits etc. and by complying with the laws so as to ensure “bio-diversity”. It was for 32 years to be renewed for a further period of 32 years. The petitioner was required to make an initial payment of Rs. 70 lakhs followed by an annual fee.

2. This application under Section 9 of the Arbitration and Conciliation Act, 1996 has been made further to an a