( 1 ) THIS is a petition by Raipur Alloys and Steel Ltd. (Petitioner No. 1) and V. K. Sharma, a shareholder and executive director, of Petitioner No. 1 under Article 226 of the Constitution of India for a declaration or any other writ or writs or direction declaring that there was no concluded contract between the parties in respect of the tender No. IS-90 of 1984 and further that the petitioners are not liable to pay any money whatsoever to the respondents in respect of the alleged contract. The petitioners further claimed a declaration that the appointment of the arbitrator and his continuing the arbitration. proceedings is illegal and void and of no legal effect.

( 2 ) THE relevant facts are that the respondents invited tenders for supply of Spring Steel Rounds sometime in September 1984- M/s. Raipur Wires and Steel Ltd. . P-48, Industrial Area, Raipur. M. P. , of which the Petitioner No. I claims to be the successor submitted a tender. The Ministry of Railways (Government of India) by their letter dated 29th November 1984 informed M/s. Raipur Wires and Steels Ltd. that the rates quoted by them against some of the items appear to be high and consequently a counter offer