NATIONAL HIGHWAYS AUTHORITY OF INDIA (NHAI) vs SOUTH INDIAN BANK LTD AND UNION BANK OF INDIA LTD & ANR.

Judgment text excerpt

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 18.03.2025 Judgment pronounced on: 01.07.2025 + O.M.P. (COMM) 125/2025 & I.A. 6896/2025, I.A. 6897/2025, I.A. 6898/2025 NATIONAL HIGHWAYS AUTHORITY OF INDIA (NHAI) .....Petitioner versus SOUTH INDIAN BANK LTD AND UNION BANK OF INDIA LTD & ANR. .....Respondent + O.M.P. (COMM) 126/2025 & I.A. 6926/2025, I.A. 6927/2025, I.A.6928/2025 NATIONAL HIGHWAYS AUTHORITY OF INDIA (NHAI) .....Petitioner versus SOUTH INDIAN BANK LTD AND UNION BANK OF INDIA LTD & ANR. .....Respondent For Petitioners: Mr. Sudhir Nandrajog, Sr. Adv. with Mr. Nishant Awana, Ms. Rini Badoni, Ms. Rebecca Mishra, Ms. Parul Yadav, Advs. For Respondents: Mr. Sandeep Sethi, Sr. Adv. with Mr. Krishna Vijay Singh, Mr. Manish Dembla, Mr. Pradyuman Sewar, Ms. Vaishnavi Chitneni, Mr. Shubham Kaushik, Advs. Digitally Signed O.M.P. (COMM) 125/2025 & O.M.P. (COMM) 126/2025 Page 1 of 56 By:MAYANK Signing Date:01.07.2025 16:15:44 CORAM: HON'BLE MR. JUSTICE JASMEET SINGH JUDGMENT 1. These are petitions filed under section 34 of Arbitration and Conciliation Act, 1996 (“1996 Act”) seeking setting aside of the Arbitral Award dated 13.11.2024 passed by the Arbitral Tribunal (“AT”). 2. Since both the petitions were heard together and the submissions of the learned counsel for the parties are identical in both the petitions, the said petitions are decided by this common judgment. 3. The only difference between O.M.P. (COMM) 125/2025 and O.M.P. (COMM) 126/2025 is that in O.M.P. (COMM) 125/2025, the parties entered into an agreement for construction of Dindigul-Theni Section and Theni-Kumili Section in the State of Tamil Nadu. In O.M.P. (COMM) 126/2025, the parties entered into an agreement for construction of Trichy - Karaikudi Road section including the Trichy