Judgment

S. C. AGRAWAL, J.:- The decision in these appeals would, we hope, mark the culmination of the protracted litigation arising out of a contract entered into by the parties on August 24, 1964 for the supply and erection of a thermal power plant at Renukoot in District Mirzapur, U.P.

2. Renusagar Power Co. Ltd. (for short Renusagar), the appellant in C.A. Nos. 71 and 71 A of 1990 and the respondent in C.A. No. 370/ 92, is a company incorporated under the Indian Companies Act, 1956 engaged in the production and sale of electric power. General Electric Company (for short General Electric), respondent in C.A. Nos. 71 and 71A and appellant in C.A. No. 370/92, is a company incorporated under the laws of the State of New York in United States of America and is engaged in the business of manufacturing, selling and servicing electrical products and various ancillary activities. After negotiations, the parties arrived at an arrangement whereunder General Electric was to supply to Renusagar the equipment and power services for setting up a thermal power plant to be known as Renusagar Power Station at Renukoot and, on November 27, 1963, Renusagar moved the Government of India for its appro