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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
SANDEEP V.MARNE
Lloyds Engineering Works Ltd. – Appellant
Versus
Transparent Energy Systems Private Ltd. – Respondent
JUDGMENT :
SANDEEP V. MARNE, J.
1. By this Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act), Petitioner challenges Award dated 9 November 2023 of the learned Sole Arbitrator. By the impugned Award, the Arbitral Tribunal has allowed the claim of the Respondent by directing Petitioner to pay to the Respondent sum of Rs.23,97,000/- together with interest at the rate of 12% per annum from 12 August 2008 till the date of realization.
2. Petitioner is an incorporated entity under the Companies Act, 2013, which was formerly known as Lloyds Steels Industries Limited. It is engaged in the business of engineering and infrastructure solutions, encompassing designing, manufacturing, fabrication and installation of heavy equipment, machinery and systems for customers of hydro-carbon (oil and gas) sector, steel processing industries, captive power plants used in steel plants, marine sector, ports, heat exchangers used by nuclear power plants, other projects, boilers and execution of turnkey projects etc. M/s. Arya Iron & Steel Co. Pvt. Ltd. (Arya) appointed Petitioner as an Engineering, Procuring and Construction Contractor for the proposed 1.2 Milli
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