- (1.) Steel Authority of India Ltd. (SAIL) has preferred this appeal by special leave aggrieved by the judgment of High Court of Punjab and Haryana passed on May 15, 2001 whereby the learned Single Judge dismissed Revision Petition preferred by the present appellant against the judgment dated September 1,1999 passed by District Judge, Chandigarh affirming the judgment and order dated May 9, 1994 passed by the Court of Sub-Judge, 1st Class, Chandigarh dismissing the objections preferred by the present appellant under Sections 30/33 of the Indian Arbitration Act, 1940 and the award dated September 7, 1993 given by the sole arbitrator was made rule of the Court.
(2.) Brief narration of facts is necessary before we embark upon the contentions raised on behalf of the appellant. On April 18, 1988, SAIL formulated a scheme entitled "Full Requirement Supply Scheme" (for short, 'the Scheme'). The said scheme is said to have been designed for meeting the full requirements of HR Coils/Skolps to the customers. Those who wanted to avail the said material as per the scheme were required to register the requirements with SAIL. The scheme further stipulated that those who wanted material over and above what was likely to be available from indigenous sources and were willing to accept imported HR Coils were required to register the requirements separately. The scheme was in operation in respect of two quarters, namely, (i) July to September, 1988 and (ii) October to December, 1988.
(3.) The case of the respondent is that pursuant to the terms of said scheme, they submitted an application for 1500 metric tones of imported material for the first quarter(July to September, 1988). It is also their case that they furnished the financial cover in terms of the said scheme.;