JUDGMENT

Navin Chawla, J. (Oral)--This petition under Section 34 of the of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the `Act') has been filed by the petitioner challenging the Arbitral Award dated 30.12.2014 passed by the Sole Arbitrator adjudicating the disputes that have arisen between the parties in relation to the `Agreement for supply of indigenous anhydrous ethanol in State of Haryana' dated 11.10.2010 executed between the parties.

2. The primary dispute between the parties is on the interpretation and effect of Clause 5 of the Agreement, which is reproduced hereinunder:

"5. TAKE OR PAY/SUPPLY OR PAY:

The both parties agree to supply/uplift minimum 90% of the order quantity. In case of failure from either party, this "Take or Pay/Supply or Pay" clause shall be applicable in addition to the other terms & conditions of the contract. The modalities shall be as under.

i. The Location shall place monthly indents/schedule for supplies of ethanol by the Suppliers.

ii. The Supplier will make the supplies as per the indents/schedule placed by the purchaser. The Supplier shall strictly adhere to the supply schedule. In case of failure to supply, the co