NCC LIMITED Vs. ELECON EPC PROJECTS LIMITED

JUDGEMENT

(1.) The Appeal, filed under sec. 37(1)(b) of The Arbitration and Conciliation Act, 1996, assails an order passed by the learned Commercial Court on 30/3/2022 in Commercial Original Petition No.79 of 2017. By the impugned order, the Commercial Court dismissed the appellant's petition filed under sec. 34 of the 1996 Act for setting aside an Award dtd. 17/12/2016.

(2.) The appellant was the respondent in the arbitration. The respondent No.1 was the claimant. The arbitration culminated in the Award dtd. 17/12/2016 passed by a Tribunal consisting of three learned Arbitrators. Apart from challenging the impugned order dtd. 30/3/2022 passed by the Commercial Court, the appellant also seeks to set aside the Award dtd. 17/12/2016. The appellant however restricts the scope of the Appeal to the extent of the loss of profit awarded by the Arbitral Tribunal in favour of the respondent No.1/claimant.

(3.) But first, a brief narration of the relevant facts leading to the Award and the impugned order.