JUDGMENT :

(Prayer: Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the impugned Award dated 21.05.2014 made in the Arbitration of the disputes arising out of the Agreement No.CS/1/CE of 1994 dated 09.02.1994 and the Rider Agreement No.CS/Rider-1/CE of 2000 dated 05.07.2000 passed by the Arbitrator and pass a fresh Award allowing all the claims of the Petitioner.)

1. Aggrieved over the Award passed by the sole Arbitrator, the present Petition has been filed challenging the Award.

1.a. Parties are arrayed as per their own rankings before the Arbitral Tribunal.

2. Brief fact leading to file this Original Petition is as follows:

2.a. The Claimants were awarded contract by the Respondents for manufacture and supply of 5 lakhs BG PSC track sleepers at a contract value of Rs.18.395 Crores governed by IRS conditions of contract and by an Agreement dated 09.02.1994. Thereafter, the Railway Board vide its letter dated 28.03.1995 has refixed the quantum of the inputs of raw materials used in the manufacture of PSC Sleepers as follows:-

Cement

HTS Wire

Existing/Present

60 Kg Per Sleeper

9.7. Kg. Per Sleeper

Revised Quantity

55 Kg Per Sleeper

9 Kg. Per Sleeper

2.b