( 1 ) THIS petition, under S. 20 of the Arbitration Act was filed by Messrs Metal Forgings Private Limited, New Delhi, against Messrs Central a Handlu Zaranizznego, Poland. It was alleged by the petitioner that the parties entered into five contracts for supply of forgings to the respondent, worth Rs. 9,94,750; Rs. 25,75,000; Rs. 27,60,009; Rs. 5,72,800 and Rs. 13,27,910 respectively. It was provided by the five separate agreements that the respondent would furnish to the petitioner drawings of the components and the petitioner would thereon submit samples for the approval of the other party and on obtaining the said approval the goods in question would be fabricated. Ten per cent of the price of the goods, amounting to Rs. 8,23,044, was paid to the petitioner in advance and letters of credit were opened in its favour in respect of four contracts. According to the petitioner there was delay on the part of the respondent in sending the drawings, approving the samples, etc. and in consequence the contracts could not be performed within the contemplated time. Prices of the necessary materials, like steel, furnace oil, went up considerably in the meantime, and that resulted