D. Murugesan, J.

1. This appeal is directed against the judgment and decree passed in O.P.No.461 of 2005 dated 26.02.2008. The appeal arises under the following circumstances.

2. A works contract dated 18. 2001 was entered into between the Indian Oil Corporation Limited, the appellant herein (hereinafter referred as the Corporation) and M/s. Devi Constructions, Erode, the first respondent herein, for execution of certain constructions. In view of the questions raised in the appeal, we are not inclined to elaborate the terms and conditions of the contract, except referring to clause 18 of the contract, which provides for an arbitration in case of a dispute and passing an award within a period of twelve months after entering upon the reference or within such extended time not exceeding further four months.

3. A dispute arose and the matter was referred to a Sole Arbitrator. The respondent-Devi Constructions made a claim of Rs.22,82,600/-. The appellant-Corporation also made a counter-claim for a sum of Rs.1,80,56,815/-. By award dated 20.12.2004, the claim made by Devi Constructions was accepted and an award was passed to the said effect. The counter-claim of the appellant-Co