Vipin Sanghi, J.

1. This petition has been filed by M/s Taipack Ltd. under Section 34 of the Arbitration and Conciliation Act 1996 (The Act) challenging the award dated 14.8.2001 made by sole arbitrator Shri Krishan Lal Aneja in claim No. 2000-01 titled “Ram Kishor Nagar Mal v. Taipack Ltd.”

.2. The impugned award has been challenged on two broad grounds:

1. The arbitrator had no jurisdiction to enter upon the reference as there was no arbitration agreement between the parties under which the disputes could have been arbitrated upon.

2. The award is in violation of the public policy of India, as it is based on incorrect interpretation and application of laws in force in India. It violates provisions of The Limitation Act, 1963 and Sick Industrial Companies (Special Provisions) Act, 1985 and The Arbitration and Conciliation Act, 1996.

3. Brief facts, as germane to the controversy are that the petitioner had placed an order for supply of BOPP films upon the respondent. On the back of the said purchase order dated 13.2.1997, were printed some terms and conditions upon which the petitioner company made its aforesaid offer.

.4. Clauses 10 and 11 thereof read as follows:

10.