These 2 (two) cases involve common questions of facts and law and, as such, these are taken up together for hearing today and, accordingly, the same are finally disposed of with the following judgment and order.

2. The common judgment and order passed by the Hon'ble the Chief Justice of this Court on 26.3.2002 in Arbitration Petition Nos. 4/2002 and 5/2002 is the subject matter under challenge in these 2 (two) writ petitions.

3. The facts of the cases in a short compass are as follows:

The present writ petitioner namely, Assam Urban Water Supply and Sewerage Board, hereinafter referred to as Board, floated a notice inviting tender on 24.9.90 inviting bids in respect of Tinsukia Water Supply Scheme and the respondent No. 1 M/s. Subhash Project & Marketing Limited, a company registered under the Companies Act, hereinafter referred to as Company, having been found to be the lowest, the bid of the respondent No. 1 Company was accepted by the Managing Director of the petitioner-Board and, thereafter, contract agreements dated 20.3.91 and 19.6.92 were entered amongst the parties concerned. While executing the contract works, certain disputes arose between the parties concerne