JUDGMENT

Prateek Jalan, J.

1. The present appeal under Section 37(2)(b) of the Arbitration and Conciliation Act, 1996 [hereinafter, "the Act"] is directed against an order dated 23.10.2022 by which a three-member Arbitral Tribunal [hereinafter, "the Tribunal"] has rejected an application of the appellant for interim measures under Section 17 of the Act.

I. Factual Background:

2. The Tribunal is in seisin of disputes between the parties under a Concession Agreement dated 21.01.2011 [hereinafter, "CA"] with regard to "Four Laning of Panvel-Indapur Section of NH-17 from KM 0.000 to KM 84.000 in the State of Maharashtra", on Build Operate Transfer [hereinafter, "BOT"] basis.¹ The original period for completion of the work was 910 days, the scheduled date of completion being 16.06.2014. The CA envisaged a concession period of 21 years from 19.12.2011 and payment of an additional concession fee by the appellant. The relevant clauses of the CA, cited in the course of arguments, are set out later in this judgment.

3. The project has admittedly not achieved completion within the time originally stipulated. The substantive dispute between the parties relates to the responsibility for