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MANISH PITALE
Future Generali India Insurance Company Limited – Appellant
Versus
Texport Syndicate (India) Limited – Respondent
ORDER :
By this petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, the petitioner has challenged award dated 22.01.2020, passed by an arbitral tribunal consisting of three arbitrators. By the said award, the arbitral tribunal granted an amount of Rs.5,49,41,082/-, to the respondent towards settlement of its insurance claim against the petitioner. The specific grounds pressed on behalf of the petitioner pertain to alleged contravention of fundamental policy of Indian law under Section 34(2)(b)(ii) and the award being patently illegal under Section 34(2-A) of the said Act.
2. Relevant facts for considering the contentions raised on behalf of the rival parties are that the respondent (original claimant) is a company engaged in the business of manufacturing garments through its factories.
On 29.06.2015, the respondent took an insurance policy from the petitioner, which is a joint venture of three insurance companies. The insurance policy was for the period from 20.06.2015 to 19.06.2016. One of the locations covered under the insurance policy was a garment factory of the respondent located in Dasanapura, Bangalore.
3. On 07.5.2016 at about 6:30 p.m., fire broke o
Point of Law : Award could also be set aside if it is so unfair and unreasonable that it shocks the conscience of the court. Such award is opposed to public policy and is required to be adjudged void....
Limited intervention of the Courts in arbitral proceedings is intended by the legislature. An Arbitral Award may only be set aside if it is patently illegal, against the public policy of India, based....
The limited grounds for interference with an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996, emphasize the concept of patent illegality and the criteria for setting asi....
The business activities at the manufacturing unit at Hazira were irrelevant for assessing the loss suffered due to business interruption at the manufacturing unit at Dahej.
The limited scope of intervention by Courts in arbitral awards under Section 34 of the Arbitration and Conciliation Act, emphasizing the need to satisfy specific grounds for setting aside an arbitral....
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