1. The Steel Authority of India Limited (‘SAIL’), in this petition under Section 34 of the Arbitration and Conciliation Act 1996 (‘Act’), challenges the majority Award dated 27th July 2009 passed by the two of the three members of the Indian Council of Arbitration Tribunal (‘Tribunal’) upholding the claims of the Respondent, Salzgitter Manesmann International GMBH (‘SI’) and dismissing the counter claims of SAIL. Third member of the Tribunal passed a minority/dissenting award on 10th August 2009. In terms of the majority Award, SI was held entitled to a sum of Euro 1,122,785.25 (Rs.6,71,42,880) together with simple interest at 8% per annum from 5th May 2006 till the date of payment and to reimbursement of Euro 360,656.70 (Rs.2,15,67,374) together with simple interest at 8% per annum from 11th August 2006 till date of payment towards refund of the performance bond. SI was also held entitled to legal costs in the sum of Euro 208,263.84 (Rs.1,38,80,452.66) and reimbursement of arbitration cost in the sum of Rs.11,23,500.

Background Facts

2. On 24th March 2001 SAIL invited global tenders for upgradation of its Electric Resistance Welded Pipe Plant (‘ERWPP’) at Rourkela in ord