1. M/s. Raj Kishan and Company, the Petitioner, has in this petition under Section 34 of the Arbitration and Conciliation Act 1996 (‘Act’) challenged an Award dated 4th June 2004 of the learned sole Arbitrator in the disputes between it and the Respondent, National Thermal Power Corporation Ltd. (‘NTPC’), arising out of the award by NTPC in favour of the Petitioner of the contract for civil works of coal handling plant package at NCPS, NTPC, Dadri on 6th February 1989.

2. The value of the contract was Rs.4,69,25,010. The scheduled date of start was 6th February 1989 and the scheduled date of completion was 5th February 1991 i.e. after 24 months. The first extension of time (EOT) for completion was granted up to 30th June 1993, the second EOT up to 31st December 1995 and the third EOT up to 31st January 1997.

3. According to the NTPC, the Petitioner abandoned the site on 31st December 1997. On 31st January 1998, NTPC issued a notice under Clause 41.1 of the General Condition of Contract (‘GCC’) stating that NTPC would restart the work and get it done at the risk and cost of the Petitioner. By a further letter dated 17th/20th December 1999, NTPC called upon the Petitioner to