hindustan petroleum corporation ltd vs larson and tourbo limited

Ajit Pathrikar APPEAL-26&14-2006-FC IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL NO. 26 OF 2006 IN ARBITRATION PETITION NO. 449 OF 2003 Larsen & Tourbo Limited ….Appellant : Versus : Hindustan Petroleum Corporation Ltd and Anr. ….Respondents WITH APPEAL NO. 14 OF 2006 IN ARBITRATION PETITION NO. 449 OF 2003 Hindustan Petroleum Corporation Limited ….Appellant : Versus : Larsen & Tourbo Limited & Anr. ….Respondents Mr. Kedar Wagle with Mr. Sagar Wagle, Mr. Kashyap Samant and Ms. Lisa Rasquinha, for Appellant in Appeal No. 26/2006 and for Respondent in Appeal No. 14/2006. Mr. Javeed Hussein with Mr. Mubashir Hussein, Mr. Munzir Hussein and Mr. Munibah Iram i/b Hussein & Co., for the Appellant in Appeal No.14/2006 and for the Respondent in Appeal No. 26/2006. CORAM : ALOK ARADHE, CJ. & SANDEEP V. MARNE, J. Judgment Reserved on : 29 July 2025. Judgment Pronounced on : 8 August 2025. Page No.1 of 49 8 August 2025 Ajit Pathrikar APPEAL-26&14-2006-FC JUDGMENT : (Per Sandeep V. Marne, J.) The Challenge 1) These are cross appeals filed under provisions of Section 37 of the Arbitration and Conciliation Act, 1996 (the Act) challenging the judgment and o