JUDGMENT

Sanjeev Narula, J. - I.A. 1956/2021 (for early hearing) in O.M.P. (COMM) 53/2018 &

I.A. 1957/2021 (for early hearing) in O.M.P. (COMM) 454/2017

1. For the reasons stated therein, the applications are allowed. The petitions are being heard today itself.

O.M.P. (COMM) 53/2018 & O.M.P. (COMM) 454/2017

2. The present petitions under Section 34 of Arbitration and Conciliation Act, 1996, impugn the arbitral award dated 25th July, 2017 passed by the Sole Arbitrator, Hon'ble Justice (Retd.) Mukul Mudgal [hereinafter referred to as "Award"] in respect of disputes arising out of the Standard Fire and Special Perils Insurance Policy dated 28th February, 2012, which was valid up to 27th February, 2013 [hereinafter referred to as the "Policy"].

BRIEF FACTS:

3. Briefly stated, on account of an incidence of fire that occurred on 25th October, 2012, M/S Worldfa Exports Pvt. Ltd [hereinafter referred to as the 'Insured'] suffered loss and made an insurance claim. United India Insurance Co. Ltd [hereinafter referred to as "Insurance Company"] paid an amount of Rs. 5,62,12,429/- to the Insured on 7th July, 2012. However, the Insured contended that on perusal of the Final Survey Report dated 20th