JUDGMENT

Chandra Dhari Singh, J. The instant petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter "Act,1996") has been filed on behalf of the petitioner seeking the following reliefs:

"It is therefore, most respectfully prayed that this Hon'ble Court may kindly be pleased to set aside the impugned Majority Award dated 05.03.2021 passed by the Ld. Arbitrators being Arbitration Case No. 1770 of 2010 titled as MMTC Ltd. vs. M/s Aust Grain Exports Pty. Ltd. before the Indian Council of Arbitration to the extent Claim 1 and Claim 2 of the Petitioner were disallowed by the Tribunal and also to set aside impugned Majority Award dated 05.03.2021 whereby the Counter Claims 1 and 3 of the Respondent were allowed;

And pass such other and further orders as deemed fit by this Hon'ble Court."

2. The petitioner had floated a tender for the supply of goods/import of Yellow Peas on a FOB/C&FFO basis with the quantity being 35,000 MTs.(+/- 10%) and the shipment period for the said goods was September-October 2009. The respondent participated in the tender and the respondent's bid was found lowest.

3. The bid of the respondent was accepted vide Letter of Intent dated 16