Sanjeev Sachdeva, J.—

1. This is an appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the ‘Said Act’) impugning the judgment dated 24th May, 2012, whereby the objections of the appellant under Section 34 of the Arbitration Act challenging the interim award dated 05th July, 2002 as well as final award dated 27th September, 2002 were dismissed. The objection petition under Section 34 of the Arbitration and Conciliation Act impugning both the interim and the final award was filed on 02.01.2003.

2. The respondent had entered into an agreement with the appellant society on dated 26th February, 1988 for construction of 490 residential units at Plot No. 40, Sector-13, Rohini, New Delhi. The date of start of construction stipulated in the work was 26th February, 1988 and the stipulated date for completion was 25th August, 1990. The work was delayed and ultimately the contract was rescinded by the appellant society on 13th January, 2000.

3. Pursuant of the rescission of contract certain disputes and doubts arose between the parties in the matter of execution of the said work. The respondent invoked the Arbitration clause and the Administrator of

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