NATIONAL HIGHWAYS AUTHORITY OF INDIA Vs. UEM-ESSAR

JUDGEMENT

(1.) This petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the "Act") has been filed by the petitioner challenging the Award dated 10.10.2014 passed by the Arbitral Tribunal adjudicating the disputes that have arisen between the parties in relation to the work of Western Transport Corridor, Tumkur-Haveri NH-4 Project-Package-2, Rehabilitation and Upgrading of Sira Chitradurga Section (Km. 122.3 to Km 189) in the State of Karnataka under Contract Agreement No. WTC/TUM-HAVERI/NH-4/CIVIL CONTRACT-PACKAGE-2.

(2.) The petitioner challenges the Award on claim nos. 1, 2, 4 and 5 as also on the issue of interest awarded by the Arbitral Tribunal.

(3.) Claim no. 1 of the respondent was towards the loss suffered by it due to wrong practice of division of price adjustment into Indian rupees and USD.