1. The present Appeal, filed under Section 37 of the Arbitration & Conciliation, 19961, read with Section 151 of the Code of Civil Procedure, 1908 , assails the Judgment dated 13.08.20092 passed by the learned Single Judge of this Court in OMP No. 609/2007, titled M/s. United India Insurance Co. Ltd. v. Karan Chand Goel. By the said Judgment, the objections filed by the Respondent herein under Section 34 of the A&C Act were allowed, resulting in the setting aside of the Arbitral Award dated 01.08.20073 passed by the learned Arbitrator.

2. Under the said Arbitral Award, the learned Arbitrator had allowed the claims of the Appellant herein to the extent of Rs. 40,84,716.25/-, together with interest at the rate of 9% per annum on the awarded sum with effect from 24.10.2001 until the date of actual payment, in addition to the costs of arbitration.

3. The controversy arising for determination in the present Appeal is narrow and pertains to the interpretation of Clause 6(b)(ii) of the Insurance Policy4 issued by the Respondent in favour of the Appellant. The relevant clause reads as follows:-

“6. ……….

(b). ………..

(ii). In no case whatsoever shall the Company be