JUDGMENT :

Biswanath Rath, J.

This Appeal involves a challenge to the judgment of the learned District Judge, Sambalpur involving the Arbitration Petition No.13 of 2003 in exercise of power under Section 34 of the Arbitration and Conciliation Act, 1996 (herein after called as "the Act, 1996"), where the learned District Judge while dismissing the Arbitration Petition was not inclined to interfere with the award of the Arbitrator dated 2.6.2003.

2. Short background involving the case is that the appellant is the Company, a subsidiary Coal India Limited, which invited tender for the work of design, supply, fabrication, erection and commission of "Unit Train Loadout System with Pyjama Chute" on turnkey basis for Belpahar CHC. Considering the tender application and upon entering into negotiation process, the offer of respondent no.1-Contractor was found suitable. As a consequence of decision of the Company, letter of intent was issued to respondent no.1, the Contractor along with detailed work order on 3.2.1997. A formal agreement was also executed between the Contractor and the Company on 6.6.1997 requiring the work to be completed within fifteen months from the date of handing over of t