JUDGMENT

Sanjeev Sachdeva, J. This appeal under Section 37 of the Arbitration & Conciliation Act, 1996, (hereinafter referred to as the Act), impugns the judgment dated 25.11.2014 passed by a learned Single Judge of this Court whereby the learned Single Judge had dismissed the objections filed by the appellant under Section 34 of the Act.

2. On 30.06.1998, the appellant-Mahanagar Telephone Nigam Limited (MTNL for short) issued the Notice Inviting Tender (NIT) for supply of CDMA IS-95A WLL technology. The respondent Fujitshu India Private Limited (FTPL for short) was the successful bidder and Letter of Intent (LOI) dated 01.06.99 was issued in its favour. Three Purchase Orders (hereinafter referred to as PO-I, PO-II and PO-III), over a period of time, were issued in favour of the respondent pursuant to the said tender.

3. Certain disputes arose between the parties with regard to the payments due to the respondents. The appellant-MTNL formed a Committee to deal with the issues that were pending between the parties. The Committee made recommendations to the Board of Directors of the appellant and also directed release of payment in respect of PO-I, II & III subject to certain dedu