M/S INOX WORLD INDUSTRIES PVT LTD vs IFFCO TOKIO GENERAL INSURANCE COMPANY LIMITED

Judgment text excerpt

$~O-7 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB. A. (COMM.) 62/2025 Date of Decision: 19.11.2025 IN THE MATTER OF: M/S INOX WORLD INDUSTRIES PVT LTD .....Petitioner Through: Mr. Shashank Garg, Sr. Adv with Ms. Ritika Jhurani, Mr. Dinesh Sharma, Mr. Varad Nath, Mr. Nistha Jain, Mr. Abhishek Kandwal, Mr. Ujwal Sharma and Ms. Gauri Bansal, Advs. versus IFFCO TOKIO GENERAL INSURANCE COMPANY LIMITED .....Respondent Through: None. CORAM: HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV JUDGEMENT PURUSHAINDRA KUMAR KAURAV, J. (ORAL) 1. Heard Mr. Shashank Garg, learned senior counsel appearing on behalf of the appellant. 2. The instant appeal under Section 37(2)(a) of the Arbitration and Conciliation Act, 1996 (hereinafter “the Act”) assails the order dated 01.08.2025 passed by the Sole Arbitrator (hereinafter “Impugned Order”), Signature Not Verified Signature Not Verified Signed By:AMIT KUMAR Signed SHARMA Signing Date:25.11.2025 By:PURUSHAINDRA 16:06:34 Page 1 of 7 KUMAR KAURAV whereby the respondent’s application under Section 16 of the Act has been allowed and the arbitral proceedings have been terminated. 3. The facts indicate that on 13.01.2022 the respondent issued a Standard Fire and Perils Policy bearing no. 12411458 to the appellants, whereunder, a sum of Rs. 1,61,60,00,000/- was insured (hereinafter “said Policy”). On the intervening night of 23.02.2023 and 24.02.2023 a fire broke out at the appellant’s premises leading to a purported loss of 139,32,73,109/-. The appointed assessor, thereafter, submitted its report to the appellant on 22.09.2023; and on 20.05.2024 the respondent repudiated the claim of the appellant. 4. A dispute, thereafter, arose between the parties, for the adjudication of which, the appellant sought the appointment of an arbitrator. This Cour