JUDGMENT

Vibhu Bakhru, J. The petitioner has filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter the `A&C Act') impugning an Arbitral Award dated 03.06.2020 (hereinafter `the impugned award') delivered by the Arbitral Tribunal comprising of three Arbitrators, Mr. M. Ravindra, Major General K.T. Gajria (Retired) and Justice (Retired) Jaspal Singh, as the Presiding Arbitrator. Whilst Justice (Retired) Jaspal Singh and Mr. M. Ravindra delivered the impugned award by majority, Major General K.T. Gajria (Retired) entered a dissenting opinion on 03.06.2020.

2. The impugned award has been rendered in the context of disputes that have arisen between the parties in relation to the Contract Agreement dated 13.11.2010.

3. By the impugned award, the Arbitral Tribunal entered an award for a sum of Rs.34,43,708. The Arbitral Tribunal further allowed interest at the rate of 10% per annum on the said amount calculated from 31.12.2015 till realisation. The Arbitral Tribunal did not accept the petitioner's claim for refund of the amount recovered by the respondent by invoking the performance bank guarantee submitted by the petitioner.

Factual