( 1 ) THE contract between the petitioner Olex and respondent No. 1 Skodaexport was for the execution of works in India, for and on behalf of the Indian Oil Corporation (for short IOCL ). The agreement between Olex and Skodaexport, however, provided for disputes to be resolved by reference to ICC arbitration. Olex Focus Pvt. Ltd and Olex Pvt. Ltd. are one and the same, therefore, they are jointly referred to as the petitioner.

( 2 ) THE petitioner is an Australian company and respondent No. 1 Skodaexport Company Ltd. is a Czech company. Respondent No. 2, Indian Oil Corporation Limited is a Government of India Company and has been impleaded in the present proceedings only to enable this court to anforce its orders. No relief otherwise is being claimed by the petitioner from respondent No. 2, except for restraining it from making any payment to respondent No. 1 arising out of the Contract dated 22. 9. 1993 with the petitioner in relation to Kandla-Bhatinda pipeline.

( 3 ) IT is mentioned in the agreement that the laws of Switzerland be applicable in the event of any dispute. In November, 1993 the petitioner commenced work on the Kandla Bhatinda Pipeline and, upon