1. State of Rajasthan and Public Works Department are in appeal under S.37 of the Arbitration and Conciliation Act, 1996 (for short 'the Act of 1996') against the order dated 09.10.2024 of the Commercial Court, Jaipur (for short 'the court') dismissing the objections filed u/S. 34 of the Act of 1996.

2. The State Government issued tender notices on 08.08.2003 inviting bids for construction of Pali Bypass, Jodhpur - Sumerpur road on Build - Operate - Transfer (for brevity 'BOT') basis. The respondent was successful bidder and letter of acceptance (for short 'LOA') was issued on 19.02.2004. The concession period was of seventy months, out of which eighteen months were for construction. Concession agreement provided for handing over of project land within sixty days extendable to one hundred twenty days. In last week of July, 2004, the respondent handed over cheques for cost of land acquisition. On 18.10.2004 major portion of the land was handed over to the respondent. The construction work was started on 18.10.2004. The balance land was handed over on 23.03.2006. After completion of construction of Railway Over Bridge (for brevity 'ROB') on 29.04.2006, the respondent started collect