( 1 ) BY this judgment I. A. Nos. 4347/84, 7082/84 and Suit No. 1142a/84 are being disposed of. Suit No. 1142a/84 is a petition under Sections 14 and 17 of the Arbitration Act, 1940 (for short the Act) for filing arbitrator s Award dated 21st May, 1984 in the court and for passing a decree in terms of the said Award, I. A. No. 7082/84 are the objections against the said Award filed by the defendant No. 1. Defendant No. 1 had also filed another objection petition (IA No. 4347/84) under Sections 30 and 33 of the Act, before the award was filed in court and notice was given to it.

( 2 ) BRIEFLY, the facts are that the plaintiff a Govt. company, on 21st February, 1973 had entered into a licence agreement with M/s. Arborites Private Ltd. of Cochin (for short Arborites) providing for disclosure by the former to the latter the use of the knowhow for the manufacture of spice oleoresins developed and invented by the Central Food Technical Research Institute, Mysore which they were entitled to use on the agreed terms for a period of 14 years commencing from 1. 10. 1971 on royalty @ 1-1/2% of net ex-factory sale price besides a premium of Rs. 5,000. 00. On the same day, another