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1. Present application under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter called 'Act') is filed by Gulf (Oil) Corporation Limited, a company incorporated under the Companies Act, 1956 having its registered office at Hyderabad in the State of Andhra Pradesh. It is pointed out in this application that a Notice Inviting Tender (NIT for short) was floated by the respondent No. 1, M/s. Steel Authority of India Limited ('SAIL' for short) and the respondent No. 2, its General Manager and respondent No. 3, Chief Materials Manager. It is pointed out that the petitioner in pursuance of that advertisement, participated in the price bid and since the quotation offered by the petitioner was the lowest, he was termed as 'L-1' by the respondent No. 1. It is then pointed out that on 19th October, 2004, the petitioner submitted the price break up for the explosives to be supplied under the Request For Quotation (RFQ for short). It is then pointed that in the last week of October, 2004, the third respondent requested the petitioner's Head Office at Hyderabad over telephone to supply certain explosives which items were covered under the NIT dated 24th September, 2004 on urgent supply basis as the respondent No. 1 had required the explosives for the immediate use to be mines of the respondent No. 1. The petitioner supplied the said materials on various dates with the understanding that such supply of explosives were outside the purview of the tender and as well as online reverse auction, since no agreement was signed till that date in terms of such RFQ or NIT. The petitioner was also requested to supply further two truck loads of explosives by the respondent on 16th November, 2004 over telephone. This supply was recorded in the letter of the petitioner dated 17.11.2004.