1. The petitioner by way of this present petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the ‘Act’), challenges the Arbitral Award dated 18.07.2017 passed by the Arbitral Tribunal (hereinafter referred to as ‘Impugned Award’), partially awarding certain claims in favour of the respondent, while rejecting the counter-claims raised by the petitioner. The Impugned Award allowed an amount of Rs. 66,00,02,997/- inclusive of pre-award interest and alongwith post award interest in favour of the respondent, while also directing the petitioner to release the Bank Guarantee of Rs. 3,93,77,776/- furnished by the respondent in respect of labour cess, to the respondent.

2. The challenge in the petition is made against the claims of the respondent allowed by the Arbitral Tribunal, that is, Claim Nos. 1, 2, 3(a) and (c), 4, 6 and 7, as also to the rejection of the Counter Claims and grant of interest.

3. Before dealing with the objections against each of the claims, the following basic facts regarding the dispute may be noted.

4