S. Rajeswaran, J.

1. This O.P. has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') to set aside the arbitral award dated 22.12.2001 passed by respondents 2 to 4, the arbitrators.

2. The petitioner-Water Supply and Sewerage Board invited tenders in July 1991 for manufacture, supply, laying, jointing, testing and commissioning of pre-stressed concrete pipes of 1200 mm dia as per contract No.I and 1000 mm dia pre-stressed concrete pipes as per contract No.II. The tenders were finalised and the work orders were issued to first respondent on 16.3.1993 and 7.4.1993 and the period of contract commenced only from 12.5.1993 and 14.6.1993 when agreements were entered into between the petitioner-Board and the 1st respondent. The total period of completion of the contract in respect of contract No. I is 20 months and in respect of contract No.II it is 18 months. On 30.9.1996 1st respondent completed the contract after availing 4 extensions. The 1st respondent applied for first extention on 28.10.1994 and again on 7.11.1994 for a period of six months i.e., up to 30.7.1995. The petitioner-Board considered the application