Prathiba M. Singh, J.

1. The present petition under Section 34 of the Arbitration & Conciliation Act, 1996 (‘Act’) has been filed by the National Highway Authority of India (hereinafter, ‘NHAI’) challenging the impugned award dated 3rd October, 2011. The said award was passed by a three-member tribunal by a 2:1 majority.

2. The Respondent-Sunway Construction SDN BHD (hereinafter, ‘Contractor’), a Malaysian company was awarded the contract for “Rehabilitation and upgrading of Km 406.00 to km 449.150 of NH-76 to 4-lane configuration in the State of Rajasthan (Contract Pkg. RJ-9)” (herein after ‘Project’). The contract was awarded vide NHAI’s letter dated 30th June, 2005, however a formal contract was signed between NHAI and the Contractor only on 11th August, 2005. The time for completion of the work was 30 months from the scheduled date. Thus, date of completion was 25th April, 2008. The total value of the awarded contract was Rs.286,85,00,000/- excluding provisional sums. The price including provisional sums was Rs.329,64,75,000/-.

3. The work was to be executed by the Con