Indira Banerjee, J.

1. The appeal, being O.S.A.No.20 of 2014, filed by M/s.Chennai Container Terminal Private Limited, hereinafter referred to as “Chennai Container”, is against a judgment and order dated 8.1.2014 passed by the learned Single Judge, in a petition under Section 34 of the Arbitration and Conciliation Act, 1996, hereinafter referred to as “the 1996 Act”, for setting aside of the arbitral award dated 26.11.2012 passed by an Arbitral Tribunal comprising the former Chief Justice of India, R.C.Lahoti, and two other Retired Judges of this Court.

2. To develop and manage the Chennai Container Terminal and to make it a hub port, through private sector participation, the Ministry of Surface Transport, Government of India, invited offers from International parties on 20.11.1997. In response to the invitation, three entities submitted their bids. One of them was a company by name P & O Australia Ports Pty. Limited.

3. Australia Ports Pty. Limited formed a consortium along with three other companies, namely, Jakari Express Private Limited, Mumbai; Meherji Cassinath