The Chief Engineer vs M/S. Prakash Constructions on 5 March, 2013
46. The judgment relied upon by the learned counsel for the
petitioners in the case of (a) Saraswat Trading Agency v. Union of
India reported in AIR 2004 Cal 267; (b) Dharma Prathishthanam v.
Madhok Constructions Pt. Ltd., reported in AIR 2005 SC 214; and (c)
Prabartak Commercial Corporation Ltd. v. Chief Administrator,
Dandakaranya Project, reported in (1991) 1 SCC 498 are all not
applicable to the facts of the instant case since those judgments deal
with Arbitration Act, 1940 and not the Arbitration and Conciliation Act,
1996. As repeatedly held by the Hon'ble Supreme Court, the Act, 1996 is
very different from the Arbitration Act, 1940 and the provisions of the
Act, 1996 will have to be interpreted and construed independently and
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reference to the Arbitration Act, 1940 may actually lead to
misconstruction.