JUDGMENT :

TARLOK SINGH CHAUHAN, J.

1. The appellants have filed the instant appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (for short the ‘A&C Act’) against the judgment rendered by the learned Single Judge on 25.02.2016, whereby the objections filed by them to the award rendered by the sole Arbitrator dated 23.07.2005 have been ordered to be dismissed with a prayer to accept the appeal and consequently set aside the judgment rendered by the learned Single Judge as also the award passed by the sole Arbitrator on 23.07.2005.

2. Respondent No. 1 was the owner of the property named ‘Hotel Wildflower Hall, Chharabra, near Shimla’ which was being used for running a hotel by the Himachal Pradesh State Tourism Development Corporation. In or around 1993, a devastating fire broke out in the hotel and the same got completely and totally burnt down. It is thereafter that respondent No. 1 decided to explore various methods and possibilities of putting the hotel back in operation including that of using the assistance of reputed Companies already operating and established in the public sector in the business of hotel industry and tourist trade. In furtherance thereto, respo