DEEPAK ROSHAN, J. - (1.) The instant appeal has been preferred by the appellant-company against the judgment dated 13.06.2018, passed by the Presiding Officer, Commercial Court, Ranchi in Commercial (REVOC) case No.122 of 2015, whereby the objection filed by the appellant-company under section 34(2) of the Arbitration & Conciliation Act, 1996 (hereinafter to be referred as 'the Act') for setting aside the award dated 05.10.2015, passed by the sole Arbitrator in the matter of dispute arising out of contract dated 13.12.1982 for turnkey execution of coal handling plant at K.D. Hesalong Project of CCL in N.K. area.
(2.) Facts of the case in brief is that in the year 1981, appellant-company floated an open tender for design, supply, erection and commissioning of 1.5 MT Coal Handling Plant for K.D. Hesalong Mines comprising primary and secondary (mines). The tender was pre-engineered by CCL consultant- CMPDIL. Pursuant to the aforesaid tender respondent claimant -M/s Damodar Ropeways and Infra Ltd. (DRIL) participated and on 18.08.1982 upon the acceptance of bid, letter of intent was issued in favour of respondent-claimant. On 13.12.1982, an agreement was entered into between the parties for commissioning the contract work within 18 months from 13.12.1982. In December, 1985, the first phase was commissioned and the commercial operation of the same was commenced. Thereafter in November, 1986, the appellant-company amended phase-II by including weigh feeder building within its scope and increasing its capacity of the wagon haulers. Consequently, the cost of contract was also enhanced and the contract value was revised. The time for completion of the extended work was extended up to 31.08.1994. In July, 1995, the first test by using locomotive without wagon was carried out by the appellant company. Since till March 1988, no load test was carried out by the respondent-claimant, extension of time was granted till 30.06.1999 for completion of project. In August, 1999, a second load test was carried out by the appellant company, but the respondent-claimant could not supply adequate coal from phase-I. From January, 2000 till June 2011 there was no activity on the site and according to the respondent-claimant the site for wagon hauling system was not handed over by the appellant-company to the respondent- claimant. As a result on 25.06.2011 the respondent-claimant terminated the contract and the matter was referred for arbitration.
(3.) The sole Arbitrator published his award dated 5.10.2015 and found the respondent-claimant entitled for payment of Rs.3,86,84,927/- with interest @ 15 percent per-annum from the date of the award till the date of payment.;