JUDGMENT :

L. NAGESWARA RAO, J.

Leave granted.

1. Whether in exercise of its power under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter, ‘the 1996 Act’), the Division Bench of the Delhi High Court was right in interfering with the award dated 11.05.2017 passed by the Arbitral Tribunal in favour of the Appellant - Delhi Airport Metro Express Pvt. Ltd. (hereinafter, ‘DAMEPL’ or the ‘Concessionaire’), is the question that arises for consideration in these Appeals.

2. Delhi Metro Rail Corporation Ltd. (hereinafter, ‘DMRC’), a joint venture of the Government of India and the Government of National Capital Territory of Delhi, proposed implementation of the Airport Metro Express Line project in New Delhi, from New Delhi Railway Station to Dwarka Sector 21 via Indira Gandhi International Airport, New Delhi (hereinafter, ‘AMEL’). The approximate length of the project was 22.7 kilometers. It was decided to develop the project by engaging a concessionaire for financing, design, procurement, installation of all systems (including but not limited to rolling stock, overhead electrification, track, signaling and telecommunication, ventilation and air conditioning, automatic far