JUDGMENT

Vibhu Bakhru, J. Wishwa Mittar Bajaj & Sons (hereafter `the appellant') has filed the present appeal under Section 37(1)(c) of the Arbitration and Conciliation Act (hereafter `the A&C Act') impugning an order dated 21.12.2017 (hereafter `the impugned order') passed by the learned Single Judge, whereby the appellant's application under Section 34 of the A&C Act, seeking to set aside an arbitral award dated 14.07.2017 (hereafter `the impugned award'), was rejected.

FACTUAL CONTEXT

2. On 18.04.2007, the respondent issued a Letter of Intent and awarded the work of construction of Towers (G, H, J & K) for Group Housing Project at Sector-82, Faridabad (hereafter `the Project') to the appellant. Subsequently, on 19.04.2007, the respondent issued a Work Order in favour of the appellant for completion of the Project. In terms of the Work Order, the effective date of commencement of works was 21.04.2007 and the scheduled date of completion of works was a period of twenty-one months from the date of possession of the site. The contract value of the Project was approximately Rs.16,48,14,449/-.

3. The execution of the works was prolonged beyond the agreed period of twenty-one months. T