YOGESH KHANNA, J.

1. This petition under Section 34 of the Arbitration and Conciliation Act, 1996 challenges the award dated 6.10.2015 passed by the arbitral tribunal. The brief gist of transactions contemplated under the Share Subscription Agreement hereinafter referred as ‘SAS’ interalia were agreed to between the parties as under:

1. Rights/obligations of Ager Mauritius [respondent no. 1]

(i) Ager Mauritus was to subscribe to shares of CHI by paying Rs. 27.15 Crore.

(ii) Ager Mauritus to subscribe to shares of CHI by paying Rs. 13.50 Crore.

(iii) Total percentage of shares post subscription would be 7.89%.

2. Rights/obligations of Ager India [respondent no. 2]

(i) Ager India was to subscribe to the shares of CHI by paying a sum of Rs. 47.50 Crore in three tranches (Documents Part).

(ii) Ager India was to subscribe to shares of CHI by paying a sum of Rs.16.01 Crore.

(iii) Total percentage of shares post subscription would be 12.69%.

3. Rights/obligations of CHI [Petitioner]

(i) CHI was to purchase equity shares of Visu Hospitality Pvt. Ltd. ['VHPL'] that were held by Ager Mauritius [64.45%] by paying a sum of Rs. 27.15 Crore, subject to certain conditions precedent that are stated