JUDGMENT :

Vibhu Bakhru, J.

1. The parties have filed the present petitions under Section 34 of the Arbitration and Conciliation Act, 1996 (hereafter the ‘A&C Act’) impugning an arbitral award dated 02.03.2021 (hereafter the ‘impugned award’) delivered by an Arbitral Tribunal comprising of a Sole Arbitrator (hereafter the ‘Arbitral Tribunal’).

2. The impugned award was rendered in the context of disputes that have arisen between the parties in relation to the renewal of the Master License Agreement dated 21.04.2014 (hereafter ‘the MLA’).

3. The MLA was for a period of five years. However, it was stipulated that the same may be renewed for a period of five years subject to satisfactory performance as per the provisions of the MLA. Undisputedly, the performance of M/s Brandavan Food Products (hereafter ‘Brandavan’) was satisfactory. Indian Railway Catering and Tourism Corporation Limited (hereafter ‘IRCTC’) was willing to renew the license, albeit on certain conditions. The dispute between the parties relates to imposition of three conditions: (i) change in the scope of services by removing the services relating to preparation of food and consequent reduction in the fee by 75%; (ii) incr