JUDGMENT

Jyoti Singh, J. - By way of the present petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the "Act"), Petitioner assails the Arbitral Award dated 30.05.2015 whereby the Arbitral Tribunal has allowed all the Claims of the Respondent herein, being Claim Nos. 1 to 5. Respondent herein was the Claimant before the Tribunal and the Petitioner herein was the Respondent.

2. The facts which need narration to decide the present petition are that the Petitioner is a Statutory body constituted under Section 3 of NHAI Act, 1988 and the functions assigned to the Petitioner under Section 16 of the 1988 Act, amongst others, are to develop, maintain and manage the National Highways entrusted to it by the Central Government. Respondent is a Limited Company.

3. Petitioner and the Respondent entered into a Contract on 21.10.2005 (hereinafter referred to as the "Contract") for a Contract Price of Rs. 2,55,20,86,851/- for executing the work of "4-laning from km 135.00 to Km 164.00 of Ayodhya to Gorakhpur Section of NH-28 in UP-Contract Pkg. LMNHP EW-ii (WB-4)". The accepted amount of the Bid for the said work in consideration of the executi