JUDGMENT : – The instant appeal has been filed under section 37(1)(B) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as “the Act of 1996) being aggrieved by the Judgment dated 9-11-2016 passed in Arbitration Case No. 76/2014 by the 10th Additional District Judge, Jabalpur (M. P.); whereby the application filed by the appellant under section 34 of the Act of 1996 has been dismissed and the Arbitration Award dated 20-1-2014 has been confirmed. The learned Arbitrator has rejected the claim of the appellant; wherein the quashment of recovery notice of Rs. 49,80,049.06/- towards risk purchase amount was sought to be recovered.

2. The appellant is a Public Limited Company incorporated under the Companies Act, 1956, engaged in the production of signalling and Telecom cables, having its registered office at 501-503, New Delhi House, 27, Barakhamba Road, New Delhi. The appellant is a small scale industry, registered with National Small Industries Corporation (N.S.I.C.) and under Micro Small and Medium Enterprises Development (MSMED) Act, 2006. Since, the Railways is the only purchaser of the material produced by the appellant, the appellant/Company is solely dependen