JUDGMENT :

G.S. Sistani, J.

This is an appeal under Section 37 (1) (b) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') read with Section 13 (1) of the Commercial Courts Act, 2015, directed against the order dated 21.11.2016 (impugned order) passed by a learned Single Judge in O.M.P.(COMM) No. 506 of 2016, by which the Arbitral award dated 18.11.2015 and the rectified award dated 07.12.2015 passed by the sole arbitrator has been upheld and the objections to the award stand dismissed.

2. The primary issues, which arose between the parties were whether the respondent (RVNL) had unilaterally terminated the contract without any reasonable justification or reason and whether the Performance Bank Guarantee (PBG) had been wrongfully encashed.

3. Brief facts necessary to be considered for disposal of this appeal are that the appellant is a multidisciplinary organization, engaged in consultancy work and the respondent is a public sector enterprise. The appellant applied for the respondent's business proposal for Project Management Consultancy (PMC) for Construction of a Road bed, Major and Minor Bridges, Track Linking and other General Electrical Work etc., i