Nature of grievance

ARBITRATION FOR COMPENSATION FOR THE BREACH OF ANY CONTRACT, EXPRESS OR IMPLIED: Where a party to the contract commits breach of the material terms of the contract, and where there exist any Arbitration Agreement between the Parties therein, Arbitration proceedings may be initiated for compensation, within 3 years (unless otherwise agreed) from the date when the breach is committed; or when there are successive breaches, 3 years to be calculated from the date of the concerned breach; or where the breach is continuing, three years are to be calculated when the breach ceases, having regard to Article 55 of the Indian Limitation Act, 1963