THERMAX LTD vs RASHTRIYA CHEMICALS AND FERTILIZERS LIMITED RCF

Judgment text excerpt

RJ-CARBP 394.2023 with IAL-23263-23.doc Kavita S.J. & Sharayu Khot IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.394 OF 2023 Thermax Limited …Petitioner Versus Rashtriya Chemicals & Fertilizers Ltd., …Respondent WITH INTERIM APPLICATION (L) NO. 23263 OF 2023 IN COMMERCIAL ARBITRATION PETITION NO.394 OF 2023 ---------- Mr. Janak Dwarkadas, Senior Counsel a/w Mr. Mustafa Doctor, Senior Counsel a/w Mr. Aditya Thakkar, Mr. R. Sudhinder, Mr. Ranjit Shetty, Mr. Rahul Dev & Ms. Monika Vyas i/b Argus Partner for the Petitioner. Mr. Shyam Mehta, Senior Counsel a/w Mr. Aditya Bapat, Mr. Mac. C. Bodhanwala, Mr. Sheraj M. Bodhanwalla, Ms. Sayali Puri, Mr. Akash Singh and Mr. Shreyas Thakur i/b M.S. Bodhanwala & Co., for the Respondent. ---------- SHARAYU PANDURANG KHOT CORAM : R.I. CHAGLA, J. Digitally signed by SHARAYU PANDURANG RESERVED ON : 30th JUNE 2025. KHOT Date: 2025.12.09 17:53:03 +0530 PRONOUNCED ON : 9th DECEMBER 2025. 1 RJ-CARBP 394.2023 with IAL-23263-23.doc JUDGMENT: 1. By this Commercial Arbitration Petition, the Petitioner has challenged the Award dated 5 th June, 2023 (“the said/subject Award”) passed by the learned Sole Arbitrator, under Section 34 of the Arbitration & Conciliation Act, 1996 (“the Arbitration Act”). 2. The relevant facts are stated under: (i) The Petitioner – Thermax Limited (referred to as “Thermax”) is an Indian industrial company offering engineering, procurement and commissioning services and sustainable solutions in Energy and Environment domain. The Respondent - Rashtriya Chemicals & Fertilizers Limited (referred to as “RCF”) is a commercial public sector undertaking engaged in the manufacturing and marketing of nitrogenous, phosphatic and potassic fertilizers as well as a v