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NAJMI WAZIRI, VIKAS MAHAJAN
Indeen Bio Power Ltd. – Appellant
Versus
EFS Facilities Services India Pvt. Ltd.
And – Respondent
JUDGMENT
Najmi Waziri, J. In FAO(OS) (COMM) 14/2021 and FAO(OS) (COMM) 111/2021, Indeen Bio Power Limited (`Indeen') has impugned under section 13(1) of the Commercial Courts Act, 2015 (`CCA') read with section 37 of the Arbitration and Conciliation Act, 1996 (`the Act') the order of the learned Single Judge dated 04.01.2021 passed in O.M.P. (COMM.) No 440 of 2020, allowing the respondent's petition under section 34 of the Act which set aside the Arbitral Award dated 20.05.2020.
2. Mr. Hiroo Advani, the learned Advocate for Indeen submitted that the impugned order has erred inasmuch as i) it has re-appreciated the evidence led before the learned Arbitrator; and ii) the delay in preparation of the Final Business Plan ('FBP') was occasioned entirely because of M/s EFS Facilities Services (India) Pvt. Ltd. ('EFS'), (earlier known as Dalkia India Private Limited ('DIPL')). A Project Development Agreement ('PDA') was entered into between DIPL and Indeen on 02.05.2010 for setting up an 8 MW Master Residue Biomass Plant at Chandli, Tehsil Devli, District Tonk, Rajasthan. A Synchronization and Coordination Agreement ('SCA') was signed between DIPL and Indeen on 08.09.2011. It along with so
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The court upheld the validity of the arbitral award, emphasizing limited grounds for judicial interference and the necessity of demonstrating clear error or illegality.
The Court held that the learned Arbitrator had erred in decreeing the award with respect to the rate of interest, and hence, the Award qua issue no. 20 with regards to the rate of interest is liable ....
The limited scope of intervention by Courts in arbitral awards under Section 34 of the Arbitration and Conciliation Act, emphasizing the need to satisfy specific grounds for setting aside an arbitral....
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