JUDGMENT

Vibhu Bakhru, J. - The National Highways Authority of India (hereinafter 'NHAI') has filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter 'the A&C Act') impugning an Arbitral Award dated 30.04.2019 (hereinafter 'the impugned award') delivered by the Arbitral Tribunal comprising of three members (hereinafter 'the Arbitral Tribunal') in respect of disputes that had arisen between the parties in relation with an agreement dated 20.02.2007 (hereinafter 'the Agreement').Factual Context

2. NHAI invited bids for the work of "four laning of Hyderabad-Bangalore section from KM 293.400 to KM 336.000 ofNH-7, in the State of Andhra Pradesh" (hereinafter the 'Project') from all eligible contractors.

3. The respondent (hereinafter 'CEC'), a company incorporated in Taiwan, submitted its bid on 18.09.2006, pursuant to the aforesaid invitation to bid. CEC's bid was accepted by a Letter of Acceptance (LoA) dated 22.11.2006, and the contract for executing the Project was awarded to CEC.

4. Thereafter, on 20.02.2007, the parties entered into t