JUDGMENT

[VIA HYBRID MODE]

SANJEEV NARULA, J. (Oral):

1. The present appeals under Section 37 of the Arbitration and Conciliation Act, 1996 [hereinafter referred to as the ‘Act’] impugn the order of Arbitral Tribunal dated 24th August, 2021, whereby: (i) an application filed under Section 17 of the Act by the Claimant – i.e., Panipat Jalandhar NHAI Tollway Pvt. Ltd. [hereinafter referred to as ‘PJNTPL’] has been dismissed; and (ii) a modification application filed by National Highways Authority of India [hereinafter referred to as ‘NHAI’] has been disposed of with certain directions merging into the order of interim measures, pending arbitration.

2. The facts of the case have been noted extensively by the Arbitral Tribunal. Therefore, recounting the same all over again is neither necessary or useful for deciding the present appeals. It would suffice to summarize the controversy between the parties succinctly. The same is as follows:

2.1. Parties executed Concession Agreement dated 9th May, 2008 [hereinafter referred to as the ‘C.A.’] in respect of ‘Six-Laning of Panipat-Jalandhar Section of NH-1 From Km 96.00 to Km 387.10 (length of 291.10 Km) in the State of Haryana and Punjab to be ex