- (1.) The appeal arises out of an order of August 18, 2016 by which the petitioner's challenge to an arbitral award of December 22, 2015 was repelled.
(2.) The appellant submits that though the legal argument put forth before the Single Bench was accepted by the order impugned, the purport thereof was not appreciated.
(3.) There are two facets to the challenge launched by the appellant: for the better part of the appellant's claim being declined; and, for the counter-claim being allowed almost in its entirety. On the first aspect, the appellant submits that both the arbitral tribunal and the Single Bench failed to appreciate the scope and effect of clause 4.0 of the letter of acceptance dated December 28, 2010. Indeed, the appellant demonstrates from the award that there is no reference therein to clause 4.0 of the said letter, though the appellant maintains that its claim in the arbitral reference was founded on such provision.;