VALMIKI J. MEHTA, J.

1. OMP 319/2003 is the objection petition filed by M/s Oriental Insurance Company Ltd. against the award dated 9.5.2003 passed by the Arbitral Tribunal consisting of 3 Arbitrators. There are two awards, one by the majority of Hon’ble Mr. R.S.Pathak (Retired Chief Justice of India) and Justice J.K.Mehra (Retired Judge of this Court) and a separate award has been rendered by the third Arbitrator Sh. Vishnu Mehra, Advocate and which also decides all issues in accordance with the majority award except that in respect of the issue with regard to the survey report, the matter has been remitted for preparing a fresh survey report.

2. The facts of the case are that the respondent/non-objector company sought an insurance policy for its stocks which were to be in different locations i.e. at different ports/godowns. The policy was also required keeping in view the total overall value limit of the policy, although there would be changes in the value of stocks and sub-limits in different locations from time to time. The business of the respondent was, inter alia, of export of its goods (mostly rice) and as per the stand of the respondent, as orders were execu