( 1 ) THE question which falls for determination in this case is as to whether the provisions of Indian Arbitration Act, 1940 (hereinafter referred to as the old Act, for short) or that of Arbitration and Conciliation Act, 1996 (hereinafter referred to as the new Act, for short) would be applicable in respect of award dated 11th February, 1998 made and published by respondent No. 2 as sole Arbitrator. While the reference to Arbitrator was made by Order dated 20th February, 1995, when the old Act was in operation, hearings also started at that time but continued even after the new Act came into force (initially as Ordinance w. e. f. 25th January, 19% and thereafter as an Act w. e. f. 16th August, 1996 ). The award was given on 11th February, 1998 when the New Act was in force. Relevant dates for appreciating the controversy may be noted first:- 20. 2. 1995 Reference made to the Arbitrator. 25. 1. 1996 Ordinance promulgated (which became New Act.) 16. 8. 1996 New Act came into force. 28. 11. 1996 Last hearing held by the Arbitrator. 11. 2. 1998 Award made and published by the Arbitrator. 16. 3. 1998 Application u/ss. 14 and 17 under the Old Act filed by the petitioner. 7.