M. Sundar, J.

1. This intra-court appeal arises out of an Arbitral Award passed by an Arbitral Tribunal and negativing a challenge to the Arbitral Award under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'A and C Act' for brevity) by a learned Single Judge of this Court.

2. Considering the nature and scope of this intra-court appeal arising out of a challenge to an Arbitral Award, it would suffice if a thumbnail sketch of facts necessary for understanding and appreciating this judgment is given. We give a thumbnail sketch of facts under the caption 'Factual Matrix' infra.

3. FACTUAL MATRIX:

3(a) Indian Oil Corporation Limited (hereinafter referred to as 'IOC' for brevity) is an entity wholly owned by the Government of India and is an instrumentality of State within the meaning of Article 12 of the Constitution of India ('COI' for brevity).

3(b) IOC embarked upon an exercise of appointing retail outlet dealers to women under a Special Scheme, which we are informed is intended to promote and encourage women entrepreneurs.

3(c) In the light of the aforesaid exercise of IOC, one Smt. S. Nirmala Sai made an application on 17.01.2004 to IOC for