JUDGMENT

Judgment Vibhu Bakhru, J. - The petitioner (hereinafter 'NTPC') 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 14.01.2020 (hereinafter 'the impugned award') delivered by the Arbitral Tribunal constituted of Dr. P.C. Markanda, ER. H.S. Dogra andER S.P. Banwait as the Presiding Arbitrator (hereafter 'the Arbitral Tribunal').

2. The impugned award was rendered in the context of disputes that have arisen between the parties in connection with the contract for execution of the "Penstok & Power House Package" for the Hydroelectric Power Project across river Bhagirathi in District Uttarkashi (hereafter 'Loharinag Pala HE Project'). The parties had entered into the formal agreement embodying the contract on 30.11.2006.

3. The controversy in the present case arises in the following context:

3.1 The main civil works of the Loharinag Pala HE Project were divided into the four packages:

Contract Package 1 : Construction of Adits to HRT.

Contract Package 2 : Construction of Head Race Tunnel

Contract Package 3 : Construction of Penstock and Power House.

Contract Package 4 : Construction of Barrage and Desilting Chamber.

3.2 On 24.10.2005, NTPC invited tenders for the work of construction of 'Penstock & Powerhouse Package' for Loharinag Pala H.E Project (4 x 150-MW) on the basis of International Competitive Bidding.

3.3 The respondent (hereafter ' PEL') submitted its bid, which was accepted and, on 23.09.2006, NTPC issued the Letter of Acceptance (LoA) in favour of PEL. In terms of the said LoA, the work was to be completed within a period of forty-five months at an agreed consideration of ^2,35,26,42,768/- and Euro 22,699,157.84/-, after deduction of 3.40% as discount as per offer plus cost of Schedule of Day-Work of ^55,77,000/-. Subsequently, NTPC issued an amendment and, the total cost of work was increased from ^371,44,99,171.73/- to ^377,60,82,087.11/-.

3.4 Thereafter, on 30.11.2006, NTPC and PEL entered into the agreement for "Construction of Pen stock & Powerhouse Package for Loharinag Pala Hydro Electric Power Project (4 x 150-MW)" (hereinafter 'the Contract').

3.5 PEL was also separately awarded the contract package for construction of the Head Race Tunnel.

3.6 In February 2009, reports were received that certain activists were agitating for closure of the Loharinag Pala HE Project. One Professor G.D. Agarwal, who was opposing the execution of the project, had gone on a hunger strike in protest against the project in question.

3.7 On 19.02.2009, due to the hunger strike by Prof. G.D. Agarwal to oppose the execution of the project, the Ministry of Power, Government of India decided to suspend the work at the Loharinag-Pala HE Project.

3.8 On 20.02.2009, looking at the sensitivity of the issue, the Central Government, in exercise of its powers conferred under Sections 3 (1) and 3(3) of the Environment (Protection) Act, 1986 (hereinafter the ' EPA Act') constituted "The National Ganga River Basin Authority" (NGRBA) under the chairmanship of the Prime Minister, with the objective of taking measures for the abatement of pollution and the conservation of the river Ganga with sustainable development goals.

3.9 The aforesaid decision of the Ministry of Power to suspend the Project was challe