JUDGMENT :

RAJNESH OSWAL, J.

1. This application under section 34 of the Arbitration and Conciliation Act, 1996 (for short ‘the Act’) has been preferred by the applicants for setting aside the award dated 25.03.2017, which includes the Majority Award issued by the Arbitrators, namely, Mr. Y.P. Singh and Mr. Sheikh Abdul Salam, as well as the Minority Award issued by Arbitrator, namely, Mr. Ali Mohd. Magray.

Facts:

2. Brief facts necessary for the disposal of the present application are that a contract for construction of the Tunnel RD 640-M to 3060-M of Sumbal Power Link Channel USHP Kangan was initially awarded to M/S National Projects Construction Corporation Ltd. (NPCC) for an estimated cost of Rs. 3.70 crores but the NPCC could execute the work only to the extent of Rs. 120 lacs (approx.) as such, the balance work was allotted to the respondent (hereinafter to be referred as ‘the claimant’) in the year 1988 on the rates as well as the terms and conditions as indicated in the agreement dated 04.06.1988, for an amount of Rs. 421.00 lacs. The period of completion of work was 30 months i.e. w.e.f. 01.06.1988 (date of start of work) to 31.12.1990 (date of completion of work), but the sa