SANJAY KISHAN KAUL, J.

1. The respondent had awarded a contract for road transportation of ISO containers between ICD/SCS, Tughlakabad to Moradabad and Saharanpur vide its letter of 21.06.1993. Clause 17 of the terms and conditions governing the contract contained the arbitration clause. Disputes between the parties were to be referred to the sole arbitration of the Managing Director of the respondent and in case of his unwillingness to act, to the sole arbitration of some other person appointed by the Managing Director.

.2. Disputes arose between the parties and the managing director appointed Sh. Gauri Shankar as arbitrator vide a letter no. CON/SEC/ARBIT/NATVAR/95/2345 dated 21.12.1995. The disputes pertained to the outstanding dues of the claimant against the respondent. The arbitrator entered upon reference on 17.01.1996 and published the award dated 03.03.1997. The arbitrator has noted that extensions were granted with the consent of parties on four occasions, the last one being after the final hearing on 26.02.1997 up to 15.03.1997. In his award dated 03.03.1997, the arbitrator has found that the claimant is entitled to an amount of Rs 29,50,044/-and also granted in