2025:BHC-OS:19827 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.1050 OF 2018 National Iranian Tanker Company ….Petitioner Versus Bharat Petroleum Corporation Ltd. ....Respondent Mr. Dhruva Gandhi a/w. Mr. Naishadh Bhatia & Mr. Heetkumar Vachhani i/b. Crawford Bayley & Co., Advocates for Petitioner.

Mr. Pankaj Sawant, Senior Advocate for Respondent.

CORAM: SOMASEKHAR SUNDARESAN, J.

DATE : OCTOBER 08, 2025 ORAL JUDGEMENT :

Context and Factual Background:

1. This is a Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (“the Act”) challenging an Award dated February 5, 2018 passed by a Learned Arbitral Tribunal (“Impugned Award”). The Impugned Award is essentially a majority award, with one of three arbitrators dissenting.

2. The short question that would be dispositive of this Petition Digitally would be whether the claim presented by the Petitioner, National signed by AARTI AARTI GAJANAN GAJANAN PALKAR PALKAR Date: Page 1 of 15

2025.10.27 +0530 Iranian Tanker Company (“NITC”) before the Learned Arbitral Tribunal against the Respondent, Bharat Petroleum Corporation Ltd.

(“BPCL”), had been barred by