JUDGMENT :

1. Through the medium of instant application filed by the Applicant herein under Section 34 of the Jammu and Kashmir Arbitration and Conciliation Act, 1997, (for short the Act) setting aside of the award dated 31.08.2005 passed by the Learned Arbitrator, Mr. Justice K.K. Gupta (Retd.) in case titled “M/S S.K.S. Kohli v. State of Jammu & Kashmir and others”, is prayed for.

2. Before adverting to the grounds of the challenge urged in the instant application, it would be appropriate to give a brief background of facts emerging from the application.

3. The Director Food & Supplies, Srinagar is stated to have issued a tender notice dated 31.01.2003 for lifting of gunny bags numbering 118.30 lacs of different classes lying in the Central Godowns at Lethpora / Gulab Bagh, Srinagar. The intending tenderers were given an option to inspect the bags on any working day before the last date of submission of tenders. It was mentioned in the NIT that the successful bidder shall have to lift the bags on ‘as is where is basis’.

4. It is stated that in response to the said tender notice, the respondent submitted his tender after depositing earnest money by way of CDR/FDR of Rs.24.00 lakhs off