A.K. CHAWLA, J.

1. This appeal under Section 37 of the Arbitration and Conciliation Act, 1996 in short 'the Act' challenges the judgment of a learned Single Judge, which rejected the Petition preferred by the appellant (hereafter “Balaji”) under Section 34 of the Act impugning the award dated 31.12.2017 of an Arbitral Tribunal.

2. The facts relevant to the appeal are that under a Franchise Agreement dated 17.8.2006 in short 'the Franchise Agreement', Balaji was appointed a retailer of the sports apparel, footwear, apparel, bags, sportswear accessories or any other related product bearing 'Reebok' trademarks. As a Franchise, Balaji was to operate a retail outlet at the premises bearing no.68/150/04, 9th Main Road, 3rd Block, J.R. Nagar, Bangalore under the name and style M/s Balaji Enterprises. During the subsistence of such arrangement, it appears, Reebok sought to discontinue the existing business arrangement by the end of the year 2012 and offered a new business module to Balaji, which did not persist for long. The parties therefore signed a settlement agreement dated 27.02.2013 in short 'the settlement agreement' under which, Balaji agreed to make payment of a negotiated