MANMOHAN SINGH, J. :

1. This appeal under Section 37 (1)(b) of the Arbitration and Conciliation Act, 1996 (in short, called “The Act”) is directed against the order dated 22nd August, 2007 passed by the learned Single Judge in OMP No.331/2006 whereby the objections preferred by the appellant to the additional award dated 29th May, 2006 were dismissed.

2. Relevant facts are that the appellant invited bids for the erection, testing and commissioning of four units of Turbine Generators, each of 210 MW for the Kahalgaon Super Thermal Power Project in the District of Bhagalpur, State of Bihar. The respondent submitted their bid which was accepted. The appellant thereafter issued a letter of award in favour of the respondent for erection, testing and commissioning of four units of turbine generator each of 210 MW for the Kahalgaon Super Thermal Power Project on 6th June, 1989.

3. Thereafter, a formal agreement was entered into between NTPC and the respondent on 20th March, 1990 and the contract was signed by the parties on 21st May, 1990. The value of the work was quantified at Rs. 2,34,43,503.92. The contract completion date was fixed as 6th August, 1992.

4. A letter of award wa