JUDGMENT :

PRASANTA KUMAR DEKA, J.

1. Heard Mr. D. Mazumdar, learned Senior Counsel assisted by Mr. A Sarma, learned counsel for the appellant. Also heard Mr. GN Sahewalla, learned Senior Counsel assisted by Mr. D. Senapati, learned counsel for the respondents.

2. This appeal is filed under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') against the judgment and order dated 31.08.2013 passed in Misc. (Arb) Case No. 3/2012 by the learned District Judge, Dibrugarh. The said Misc. (Arb) Case was filed against the award dated 28.03.2012 passed by the arbitral tribunal. Vide the said award the tribunal held that the appellant is entitled to compensation in terms of Clause 17 of General Conditions of Contract (for short, GCC) i.e. a maximum of 7½% of the contract value and not in terms of Clause 18 of the GCC i.e. the entire performance security amounting 10% of the contract value for the breach committed by the respondent. The main contention before the learned District Judge by the present appellant that there was complete failure on the part of the respondent in fulfilling its obligation under the contract by not mobilising the Rig and ille