Hindustan Petroleum Corporation Limited vs Om Constraction on behalf of Om Constraction Nice Projects Limited JV through Sole Proprietor Satya

Judgment text excerpt

Neeta Sawant CARBP(L)NO. 28685 OF 2024 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NEETA COMMERCIAL ARBITRATION PETITION (LODG.) NO. 28685 OF 2024 SHAILESH SAWANT WITH Digitally signed by NEETA SHAILESH INTERIM APPLICATION (LODG.) NO. 28770 OF 2024 SAWANT Date: 2026.01.20 IN 08:56:21 +0530 COMMERCIAL ARBITRATION PETITION (LODG.) NO. 28685 OF 2024 Hindustan Petroleum Corporation Ltd. ….. PETITIONER : VERSUS : Om Constraction on behalf of Om Constraction Nice Projects Limited JV …. RESPONDENT Mr. Zubin Behramkamdin, Senior Advocate with Mr. Vijay Purohit, Mr. Pratik Jhaveri and Mr. Samkit Jain i/b. P & A Law Offices, for the Petitioner. Mr. Akshay Ringe with Mr. Akash Menon and Ms. Anjana Vijay, for the Respondent. CORAM : SANDEEP V. MARNE, J. JUDG. RESD. ON : 5 JANUARY 2026. JUDG. PRON. ON : 19 JANUARY 2026. JUDGMENT : 1) By this Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act), Petitioner challenges Award of the learned sole Arbitrator dated 18 June 2024. By the impugned Award, the Arbitral Tribunal has allowed the claim of the Respondent in the sum of Rs.19,82,79,601/- alongwith interest @12% p.a. till the date of the _____________________________________________________________________________ PAGE NO. 1 of 65 19 January 2026 Neeta Sawant CARBP(L)NO. 28685 OF 2024 Award. The Arbitral Tribunal has further directed release of hold on the amount of security deposit and retention amount. The Tribunal has also granted post Award interest @ 15% p.a. from 1 September 2024. FACTS 2) Petitioner is a State-owned oil company and a Government of India Undertaking. The Respondent is a Joint Venture of Om Constraction and Nice Projects Ltd. The Petitioner issued tender for execution of civil, structur