UNITED INDIA INSURANCE CO. LTD vs M/S VALLEY IRON & STEEL CO. LTD.

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 14.07.2025 Judgment pronounced on: 18.09.2025 + O.M.P. (COMM) 194/2022 UNITED INDIA INSURANCE CO. LTD. .....Petitioner Through: Mr. A.K.De, Ms. Ananya De, Ms. Chandni Sharma, Advs. versus M/S VALLEY IRON & STEEL CO. LTD ......Respondent Through: Mr. S.D. Singh, Mr. Kamla Prasad, Mrs. Meenu Singh, Mr. Siddharth Singh, Advs. + OMP (ENF.) (COMM.) 21/2022 & EX APPL.(OS) 3045/2022, EX APPL.(OS) 6/2023 M/S VALLEY IRON AND STEEL COMPANY LIMITED ..…Decree Holder Through: Mr. S.D. Singh, Mr. Kamla Prasad, Mrs. Meenu Singh, Mr. Siddharth Singh, Advs. versus UNITED INDIA INSURANCE COMPANY LIMITED …..Judgement Debtor Through: Mr. A.K.De, Ms. Ananya De, Ms.Chandni Sharma, Advs. CORAM: HON'BLE MR. JUSTICE JASMEET SINGH 1. This is a petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (“the Act”) seeking the setting aside of the impugned Arbitral Award dated 28.07.2021 and Order dated 28.08.2021 passed by the Arbitral Tribunal (“Tribunal”) in “M/S. Valley Iron & Steel Company Ltd. And United India Insurance Company Ltd.” FACTUAL BACKGROUND 2. The petitioner herein was the respondent before the Tribunal, a