JUDGMENT

Vibhu Bakhru, J. - The petitioner 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 09.05.2020 (hereinafter the ‘impugned award’) delivered by the Arbitral Tribunal constituted by a former judge of this Court as the Sole Arbitrator.

2. The impugned award has been rendered in the context of disputes that have arisen between the parties in relation to an agreement dated 02.07.2012 (hereafter ‘the Agreement’).

3. By the impugned award, the Arbitral Tribunal has partly denied the claims preferred by the petitioner. The Arbitral Tribunal has denied that petitioner’s claim for damages and loss of profit on account of delay in completion of works.

Factual Context

4. India Tourism Development Corporation Ltd. (hereinafter referred to as “ITDC”) invited tenders on 09.02.2011 for “Construction of Memorial of Smt. Vidyavati Ji Mother of Great Martyr Shaheed Bhagat Singh Ji” at Village Moranwali, District Hoshiarpur, Punjab (hereinafter referred to as the “Memorial”).

5. The petitioner tendered its bid to execute the works on 11.04.2011, pursuant to the aforementioned notice inviting te