JUDGMENT :

VIBHU BAKHRU, J

1. The parties have filed these petitions under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter the ‘A&C Act’) impugning an arbitral award dated 25.06.2020 (hereinafter ‘the impugned award’) delivered by the Arbitral Tribunal constituted of three members, Justice PK Balasubramanyam (Retd.), Justice M.Y. Eqbal (Retd.) and Justice Dr Mukundakam Sharma (Retd.) as the Presiding Arbitrator (hereafter ‘the Arbitral Tribunal’).

2. The impugned award was delivered by the majority with Justice (Retd.) M.Y. Eqbal rendering a partially dissenting opinion.

3. The controversy in the present case arises in the following context:

3.1 Tenders were invited by National Thermal Power Corporation Limited (hereafter ‘NTPC’) for setting up of Steam Generator, Tanda Thermal Power Project Stage-II (2x660 MW) located at Vidyut Nagar, District Ambedkar Nagar, Uttar Pradesh on EPC basis (hereinafter ‘the Project’). The work was divided into three packages as under: