JUDGMENT

Vikram Aggarwal, J.

The appellant challenges the order dated 08.12.2022 passed by the Commercial Court, Chandigarh vide which the petition filed by the appellant under section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the 1996 Act') was dismissed.

2. The facts, as emanating from the pleadings are that the appellant claims itself to be a professional organization of Civil Contractors, Builders and Developers with more than 20 years' experience. It was awarded the contract for up-gradation, operation and maintenance of Patiala-Patran Road on B.O.T. basis in the Public Private Partnership (PPP) mode. Notice of award dated 01.09.2005 (Annexure P-2) was issued to the appellant company. Concession agreement (Annexure P-3) was executed on 06.12.2005. It was for a period of sixteen and a half years (up-till 19.08.2022) which included the construction period of 24 months for upgrading, widening and strengthening of the existing road. As per the appellant, the construction work commenced on 20.02.2006 and was completed on 27.02.2007. The collection of fee/toll commenced w.e.f. 06.03.2007 at the approved rates. In March 2020, the COVID-19 pandemic hit the nation, as a result of which, a country wide lockdown was imposed. As a result of the same, the volume of vehicular traffic on the project road was affected. Collection of toll was stopped. Vide communication dated 20.04.2020, the appellant reported the occurrence of COVID-19 as a 'Political Force Majeure Event' to the Government of Punjab, which the Government of Punjab termed as 'Non-Political'. On account of the pandemic, contracts were extended by the Government. Various terms and conditions were laid down and some concessions were also granted. In October 2020, farmers from all across the State of Punjab started blocking the toll plazas and forcibly allowed the vehicles to cross the toll points without paying the toll charges. This protest lasted till December 2021. This was also notified by the appellant as a 'Political Force Majeure Event' and extension of the concession period in terms of Clause 15.5(c) of the agreement was sought. Various meetings were held by the respondents with the concessionaires. Further extensions were granted by Government of India to various concessionaires.

In September/October 2020, the Government of Punjab decided not to grant any extension for the Force Majeure periods and after few concessionaires were dislodged by the Government, the appellant preferred CWP No.22617-2022 before this Court which was disposed of on 29.09.2022 with a direction to the respondents to decide the representation of the appellant after affording an opportunity of hearing (Annexure P-17).

In compliance of the directions passed by this Court, speaking order dated 20.10.2022 (Annexure P-19) was passed laying down certain conditions to which the appellant submitted its response dated 21.10.2022 (Annexure P-20). A response was given by the respondents on 22.10.2022 (Annexure P-20) asking the appellant to either deposit the amount of Rs.753.82 lakhs or give an undertaking that the revenue collected would be deposited in the Escrow Account. Having been left with no other alternative, the appellant submitted an undertaking on 23.10.2022 under protest. However, the said undertaking was not accepted and vide email dated 23.10.2022 (Annexure P-21), the respondents stated that the agreement had lapsed and the appellant was asked to hand over the vacant possession of the toll plaza at the earliest.

The appellant, therefore, submitted an amended undertaking o