ORDER :

P.T. Asha, J.

1. These two petitions arise out of a common award passed by the Arbitral Tribunal on 22.11.2010 in a dispute that has arisen between the claimant, M/s. Sterlite Optical Technologies Ltd. and the respondent, Bharat Sanchar Nigam Ltd. The parties are referred to as "Sterlite" and "BSNL" respectively.

2. O.P. No. 200 of 2011 has been filed by the "Sterlite" and O.P. No. 774 of 2011 by the "BSNL". The facts in brief preceding the filing of the above petitions by the respective parties are as follows:

(i) "Sterlite" which is a Public Limited Company had bid for a tender floated by "BSNL" for the supply of 24F of cable for its Southern Telecom Project on 01.10.2005. The case of "Sterlite" was that in or about July/August 2005, "BSNL" has circulated a letter bearing No. F.No. 3-2/2004-MMT/PT-III dated 01.08.2005 informing that an amendment has been effected to the Fall Clause with immediate effect, in and by which a change had been incorporated to Clause 24 of Section III of the standard form of contract executed by the BSNL with its vendors. The amended Fall Clause would read as follows:

"Amendment to Clause 24 of Section III (Fall Clause):-

24.1. The prices once fixed w