JUDGMENT

Neeraj Tiwari, J.—Heard Sri Anil Sharma, learned Senior Counsel assisted by Sri P.K. Rai, learned counsel for the petitioners and Sri Manish Goyal, learned Senior Counsel assisted by Sri Pranab Kumar Ganguli, learned counsel for the respondents.

2. Present petition has been filed challenging the order dated 08.08.2022 passed by Commercial Court, Varanasi i.e. respondent no. 1 in Execution Case No. 24 of 2020 (Old Case No. 21/2012) and additional award dated 21.02.2006 passed by Arbitrator in the matter of M/s Vidhyawati Construction Col vs. IOCL and another.

3. Since, only legal question is involved in the present petition and pleadings have been exchanged between the parties, therefore, with the consent of parties, petition is being decided at the admission stage itself.

4. Brief facts of the case are that Original Suit No. 436 of 1989 was filed on 01.07.1989 for appointment of Arbitrator in accordance with provision of Arbitration Act, 1940 (hereinafter referred to as the ‘ Old Act, 1940), which was applicable at that time. Vide order dated 12.8.1991, learned Civil Court appointed Hon’ble Mr. Justice R.P. Singh (Retired) sole arbitrator to decide the dispute. Due to pend