NTPC LTD Vs. PATEL ENGINEERING LTD

JUDGEMENT

(1.) This petition under Section 34 of the Arbitration and Conciliation Act 1996 ('Act') by NTPC Ltd. is directed against an Award dated 26th March 2013 passed by the Arbitral Tribunal ('AT') regarding the disputes between NTPC Ltd. and the Respondent Patel Engineering Ltd. arising under a contract dated 5 th September 2006 for the construction of the Head Race Tunnel Package as part of the 600 MW Loharinag Pala Hydroelectric Power Project in Uttarkashi, Uttarakhand. The total value of the contract was Rs. 216,29,89,177 and Euro 171,95,368. The period of completion was 38 months from the date of issuance of the Letter of Acceptance (LOA) which was issued on 6th July 2006.

(2.) The disputes that arose between the parties were referred to arbitration before the AT. There were 6 items of claim preferred by the Respondent. By the impugned Award, the AT comprising one technical member, one senior Advocate and presided over by a retired Judge of the High Court, decided the claims as under:

(3.) This Court has heard the submissions of Mr. S.B. Upadhyaya, learned Senior counsel for NTPC and Mr. Dayan Krishnan, learned Senior counsel for the Respondent.