JUDGMENT

[VIA VIDEO CONFERENCING]

Sanjeev Narula, J. (Oral)--The present petition under Section 34 of the Arbitration and Conciliation Act, 1996 (in short `the Act') challenges the impugned award dated 18th September, 2020 passed by a three-member Arbitral Tribunal (in short `the AT'), insofar as it rejects three claims of the Petitioner.

FACTUAL MATRIX

2. Briefly stated, the relevant facts of the case are as follows:

2.1. On 6th May, 2014, a tender notice was issued by CEE/Con/Bilaspur, South East Central (in short `the tender'). The Petitioner participated in the tender and submitted a bid.

2.2. Pursuant to post-tender negotiations between the parties, on 19th September, 2014, the Respondent accepted Petitioner's bid and awarded the contract vide Letter of Acceptance (in short `the LoA') No. EL/Con/BSP/904/1166 dated 14th October, 2014 at Rs.14,11,06,469/- with a completion period of eighteen months i.e., by 13th April, 2016.

2.3. In terms of the LoA, the Petitioner furnished a Performance Bank Guarantee (in short `the PBG') numbered 5073214BG000920 dated 7th November, 2014 for Rs.70,55,323/- in favour of the Respondent for fulfillment of the contractual obligations under the contr