IA No.5524/2009 (Exemption)

Allowed, subject to just exceptions.

O.M.P. 227/2009

1. This petition by Bharat Heavy Electricals Limited (‘BHEL’) under Section 34 of the Arbitration and Conciliation Act, 1996 (‘Act’) is directed against the impugned Award dated 27th January 2009 passed by the learned sole Arbitrator in the disputes between BHEL and the Respondent, Bajaj Allianz General Insurance Company Limited, arising out of the ‘Standard Fire and Special Perils Policy’ (Impact Damage) [hereinafter referred to as ‘the policy’] dated 1st April 2005.

2. BHEL is stated to be one of the leading manufacturing and engineering public sector enterprises inter alia engaged in the business of design, manufacturing and installation services of power generating equipment on turnkey basis for thermal, hydro, gas and nuclear power plants in India and abroad. At one of its major plants in Ramchandrapuram, Hyderabad, BHEL inter alia undertakes manufacturing and assembling of turbo generator equipments ranging from 60 MW to 120 MW sets, pumps and heaters etc.

3. On 14th March 2005 a tender was floated by BHEL inviting offers for fire, marine and material issued to sub-contractor insurance polic