JUDGMENT

Krishna Rao, J. - The Steel Authority of India Ltd. (hereinafter referred to as 'SAIL') had preferred the instant application under Section 34 of the Arbitration and Conciliation Act, 1996 challenging the award passed by the Arbitral Tribunal consisting of three Arbitrators wherein the Presiding Arbitrator and one Ld. Arbitrator have passed minority award in favour of the respondent namely Vizag Seaprot Pvt Ltd. (herein after referred to as 'VSPL') and one of the Arbitrator has passed separate minority Award and rejected the claim made by the respondent.

2. On 06.05.2008, a Short Term Agreement (herein after referred as 'STA') was entered between the petitioner and the respondent for a period of three years with the further extension of one year 'for providing integrated terminal services at multipurpose berth EQ-8 in the northern arm of inner harbor at Visakhapatnam Port for handling coking coal and metallurgical coke in bulk at Visakhapatnam, Andhra Pradesh'.

3. The contract was in force till 05.05.2012 and thereafter a fresh agreement was executed from 11.05.2012 onwards with extension till 31.03.2014. The dispute was arose between the parties on 20.12.2010 when the respon