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2. The brief facts of the case are that the respondent is a trust for the promotion of art and culture under the patron of Ministry of Information and Broadcasting of the Government of India, having its registered office at Janpath, New Delhi.

3. A Contract No.012 dated 15.02.1999 was entered into between the parties for construction of Sutradhara & underground parking-B civil works at IGNCA, Janpath, New Delhi. The construction work was to be completed within the stipulated period of 30 months i.e. by 02.09.2001. The contract dated 15.02.1999 also contained the Arbitration clause at Point 3.25.0.