IL AND FS PARADIP REFINERY WATER LIMITED vs INDIAN OIL CORPORATION LIMITED

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment Pronounced on: 17.04.2025 + FAO(OS) (COMM) 164/2023 IL&FS PARADIP REFINERY WATER LIMITED ..... Appellant versus INDIAN OIL CORPORATION ..... Respondent + FAO(OS) (COMM) 165/2023 IL&FS PARADIP REFINERY WATER LIMITED ..... Appellant versus INDIAN OIL CORPORATION ..... Respondent For the Appellant : Mr. T. Srinivasa Murthy, Mr. Piyush Joshi, Ms. Sumiti Yadava, Ms. Meghna Sengupta, Ms. Trushita Srivastava and Ms. Manasvi Kumar, Advocates. For the Respondent : Mr. I.S. Alag, Sr. Adv. with Mr. Rajat Navet and Mr. Kushagra Pandit, Advocates. CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MS. JUSTICE TARA VITASTA GANJU JUDGMENT TARA VITASTA GANJU, J.: TABLE OF CONTENTS Preface…………………………………………………………………2 Brief facts..…………………………………………………………….3 Impugned Judgment………………………………………………….5 Contentions of the Appellant…………………………………………9 Contentions of the Respondent………………………………………13 Analysis and Findings………………………………………………..18 Conclusion…………………………………………………………….40 1. The present appeals are filed under Section 37 (1)(c) of the Arbitration and Conciliation Act, 1996 [hereinafter referred to as “Arbitration Act”], read with Section 13 Commercial Cour