1. The Petitioner, Municipal Corporation of Delhi (‘MCD’), has in this petition under Section 34 of the Arbitration and Conciliation Act, 1996 (‘Act’) challenged an Award dated 12th April 2006 passed by the learned sole Arbitrator in the disputes between the MCD and the Respondent M/s. Harcharan Dass Gupta, arising out of a contract entered into between the parties whereby the work of construction of staff quarters at Model Town, Sub-Head: Construction of four blocks of Type-A, Group C, was entrusted to the Respondent by the MCD.

2. The date of the start of the work was 13th April 1992 and the stipulated period of completion was 15 months. However, work did not actually begin till 25th November 1992. As against the stipulated date of completion of 12th October 1993, the work was actually completed on 15th May 1995. Extension of time (‘EOT’) was granted by the MCD to the Contractor without levy of any compensation. The Contractor gave an undertaking to the effect that he would claim neither escalation nor compensation for delay in the completion of the work. 75% of the security was released on 13th February 1998 and the last payment was made on 31st March 1998.

3. Accordin