A.K.Ganguly, J. - (1.) This petition has been filed under sections 30 and 33 of the Arbitration Act, 1940 (hereinafter referred to as AA 1940) challenging on various grounds the award made and published by the Joint Arbitrators dated 17.10.2000. The material facts of the case are noted below.
(2.) On or about 10th May 1991, the petitioner invited a tender for transportation of approximately 25,000 MT to 50,000 MT of coal from the Port of Haldia to the Port of Cochin. The said coal was required for the consumption of the subsidiary of the petitioner, viz. M/s. Hindusthan Newsprint. Pursuant to the said tender, the respondents submitted their quotation on or about 12th June 1991 and, ultimately, on 18th September 1991, the quotation of the respondent was accepted on certain conditions.
(3.) In order to carry out the obligation under the said contract, the respondent, as a disponent owner chartered a Vessel, viz. M.V. Lok Prakash from M/s. Shipping Corporation of India Ltd. and, thereafter, a Charter Party agrement was entered into between the petitioner and the respondent.;