OIL INDIA LIMITED Vs. TECHNO CANADA INC.

JUDGEMENT

(1.) The petitioner (hereafter 'OIL') has filed the present petition seeking review of the order dtd. 8/9/2021, whereby the petitioner's application [O.M.P.(OS)(COMM) 12/2021] under Sec. 34 of the Arbitration and Conciliation Act, 1996 (hereafter 'the A&C Act') impugning an arbitral award dtd. 1/9/2020 (hereafter 'the impugned award') was partly allowed.

(2.) The respondent (hereafter 'TCI') had commenced the arbitral proceedings for adjudication of its various claims. The Arbitral Tribunal had allowed most of the claims as raised by TCI. The operative/dispositive part of the impugned award is set out below:

(3.) OIL had assailed the said award by filing the above-captioned application under Sec. 34 of the A&C Act. The learned senior counsel, who had appeared for OIL in the said application, had confined the challenge to the impugned award on the following grounds that its claims were barred by limitation; that TCI had waived its right to claim any compensation by unconditionally accepting the deferment of deadlines; that the interest awarded was beyond the claims raised by TCI; that the Arbitral Tribunal had erred in awarding pre-award interest on claims other than Claim no.2; and that the Arbitral Tribunal had erred in awarding costs.