Sandeep Sharma, J.

Instant petition under S. 34 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as, ‘Act’) is directed against Award dated 2.10.2015 passed by learned arbitral tribunal, whereby claim petition having been filed by petitioners-claimant (hereinafter, ‘claimant’) has been dismissed in toto.

2. Factual matrix of the case, as emerges from the record, is that the claimant came to be allotted two plots bearing Nos. 24 and 25 at Industrial Area, Tahliwal, Una, District Una, Himachal Pradesh by respondent Department for setting up factory/plant for manufacturing the food products. Possession of Plots No. 25 and 24 was handed over to the claimant on 8.8.1995 and 14.11.1995, respectively. As per terms and conditions contained in the lease deed, claimant was required to establish factory on the said plots within a period of one year after obtaining sanction for construction of building from the concerned authority. The period was extendable by six months. Record reveals that despite repeated show cause notices having been issued by the respondent, claimant failed to set up factory /plant and commence production. Record further reveals that responden