JUDGMENT :

Krishna Rao, J.

1. This is an application under Section 9 of the Arbitration and Conciliation Act, 1996 filed by the award holder.

2. On 27th February, 2005, the petitioner and respondent entered into an agreement wherein the respondent agreed to sell the entire iron ore to the petitioner. The entire iron ore that would be excavated from the Mines as per the terms and conditions mentioned in the agreement. Pursuant to the agreement, the petitioner time to time had made payment of Rs. 1,69,99,600/-to the respondent. The respondent informed the petitioner that mining operation had not commenced and as soon as the same would commence, the petitioner would be informed. In the month of December, 2009, the petitioner came to know that mining operations of the Mines had been commenced by the respondent behind the back of the petitioner and in breach of the terms and conditions of the agreement.

3. On 24th December, 2009, the petitioner has sent a letter to the respondent expressed its apprehension that the respondent was in breach of the agreement and on 11th January, 2010, the respondent had sent a reply alleging that the agreement was void ab initio by reason of violation of Rule