Delhi Tourism & Transportation vs M/S Gammon India Ltd on 21 April, 2026

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    Delhi High Court

    Delhi Tourism & Transportation vs M/S Gammon India Ltd on 21 April, 2026

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                        *       IN THE HIGH COURT OF DELHI AT NEW DELHI
                        %                                    Judgment reserved on: 16.03.2026
                                                          Judgment pronounced on: 21.04.2026
    
                        +         O.M.P. (COMM) 531/2016
                                  DELHI TOURISM & TRANSPORTATION DEVELOPMENT
                                  CORPORATION                            .....Petitioner
                                               Through: Mr. Prashanto Chandra Sen, Sr.
                                                        Adv. with Mr. Sriharsha
                                                        Peechara, Mr. Soumit Ganguli,
                                                        Ms. Rajlakshmi Singh, Ms.
                                                        Vanisha Mehta, Ms. Ravicha
                                                        Sharma, Ms. Shruti Agarwal &
                                                        Mr. Akash Sharma, Advs.
                                               versus
    
                                  M/S GAMMON INDIA LTD                  .....Respondent
                                               Through: Mr. Ashish Dholakia, Sr Adv.
                                                        with Mr. Saurabh Suman Sinha,
                                                        Mr. Gautam Prabhakar, Mr.
                                                        Yash Bhatnagar & Ms. Ananya
                                                        Narain, Advs.
                                  CORAM:
                                  HON'BLE MR. JUSTICE HARISH VAIDYANATHAN
                                  SHANKAR
                                                     JUDGMENT
    

    HARISH VAIDYANATHAN SHANKAR, J.

    1. The present Petition, filed under Section 34 of the Arbitration
    and Conciliation Act, 19961, seeks to set aside the Majority
    Arbitral Award dated 12.12.20132, passed in the Arbitral proceeding
    undertaken by a three-member Arbitral Tribunal.

    SPONSORED

    1

    Act
    2
    Impugned Award

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    2. The said Arbitral Tribunal comprised of Er. Basab Majumdar,
    learned presiding Arbitrator, along with Er. K.N. Agrawal and Er.
    K.K. Varma, learned Arbitrators, in the Arbitral proceeding titled
    “M/s Gammon India Limited and Delhi Tourism and Transport
    Development Corporation”.

    3. The Impugned Award has been rendered by a majority of the
    Arbitral Tribunal comprising Sh. Er. Basab Majumdar and Sh.
    Er. K.N. Agrawal3. The third member of the Arbitral Tribunal, Sh.
    Er. K.K. Varma has rendered a separate dissenting opinion.

    4. The controversy before the learned Arbitral Tribunal centred
    primarily on the interpretation of contractual clauses governing the
    parties, along with ancillary monetary claims, including claims for
    interest, which were consequential to such interpretation.

    BRIEF FACTS:

    5. The Delhi Tourism and Transportation Development
    Corporation [“DTTDC”]4, an Undertaking of the Government of the
    National Capital Territory of Delhi, issued a Notice inviting Tender5
    for the construction of bridge and its approaches, over the
    Yamuna River downstream of existing Bridge at Wazirabad,
    Delhi6.

    6. M/s Gammon India Limited7, a civil construction company,
    submitted its bid, in pursuance of the said NIT, on 10.03.2008.

    3

    Learned Majority Tribunal
    4
    Petitioner
    5
    NIT
    6
    Project
    7
    Respondent

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    7. The Respondent emerged as the successful bidder and was
    accordingly issued an Acceptance Letter for the Tender vide Letter
    No. DTTDC/23(202)/Engg./WB/2008/1887 dated 27.05.20088,
    pursuant to which Agreement dated 19.06.2008, bearing No.
    03/DTTDC/Engg./WB/2008-099, came to be executed between the
    Petitioner and the Respondent.

    8. The Contract comprised four volumes, including Conditions of
    the Contract contained therein, particularly, Section D, Chapter 2 of
    Volume 1 of the Tender Documents [“General Conditions of the
    Contract”]10, which sets out the definitional framework. Definition
    No. 1 categorically enumerates the various documents forming part of
    the contract, inter alia, the documents forming part of the Tender and
    the Acceptance Letter.

    9. It is the case of the Petitioner that the said project was
    structured into distinct components, and each component was further
    divided into three milestones, each component having a fixed
    stipulated date of completion, with overall completion of the project
    being fixed at 42 months from the date of start.

    10. The said timelines are reflected in Clause 5 of the GCC, read
    along with Schedule „F‟ to the GCC, which prescribes milestone-
    based completion periods for the various components of the project.
    The three components of the project, as set out, are as follows:

    I. Straight flyover along the outer ring road on the Western side.

                                  a.     Foundation-12 Months
                                  b.     Sub-Structure- 15 Months
    
                        8
                          Acceptance Letter
                        9
                          Contract
                        10
                           GCC
    
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                                c.   Super Structure- 24 Months
    

    II. Flyover at Khajuri Khas intersection on the Eastern side.

    a. Foundation-15 Months
    b. Sub-Structure- 18 Months
    c. Super Structure- 30 Months
    III. Remaining Grade Separators.

    a. Foundation – 24 Months
    b. Sub-Structure – 27 Months
    c. Super Structure – 42 Months
    IV. Main Embankment. – The complete earthwork, including
    subgrade, shall be completed within 24 months.

    11. It is stated that the Petitioner engaged in discussions with the
    Respondent with regard to the milestones as provided for in the
    Contract and as stated hereinabove.

    12. Pursuant to discussions, the Respondent vide a Letter dated
    19.03.2008, assured the Petitioner that the milestones for each Super-
    Structure as stated in Clause 5 of the GCC will be adhered to, whereas
    the intermediate milestones of Foundation and Sub-Structure will be
    modified.

    13. The Contract also contains Clause 10CC, which provides for
    escalation on account of an increase or decrease in prices of materials
    and wages. The said clause stipulates that escalation is payable for
    work executed during the “stipulated period of completion”, including
    any justified extension thereof, subject to the condition that for work
    executed during the extended period, the escalation would be

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    computed at the rates prevailing at the stipulated date of completion or
    the actual period of execution, whichever is lower.

    14. Disputes arose between the parties with respect to the
    interpretation of the expression “stipulated period of completion”

    under Clause 10CC, particularly as to whether the same was to be
    construed with reference to the project as a whole or component-wise.

    15. In order to adjudicate upon the said dispute, the Respondent
    vide Legal Notice dated 21.02.2013 invoked the Arbitration Clause as
    contained in Clause 25 of the GCC.

    16. The Chief Engineer, DTTDC, by virtue of the powers conferred
    on him under Clause 25 of the said Agreement, appointed the
    aforementioned Arbitral Tribunal by Letter dated 04.04.2013, to
    adjudicate the claims/disputes between the parties.

    17. The primary claim before the learned Arbitral Tribunal was
    Claim No. 1 of the Statement of Claims i.e., Escalation payment not
    being paid as per Clause 10CC of the Agreement for the work done
    during original contract period due to difference in interpretation of
    Clause 10CC by DTTDC and GIL, while the other claims were
    ancillary claims which hinged upon the determination of the claim No.
    1 itself i.e., the pendente lite interest, future interest and the costs of
    Arbitration.

    18. The learned Arbitral Tribunal rendered a 2:1 award, with the
    majority Award being in favour of the Respondent, and the dissenting
    opinion being in favour of the Petitioner.

    19. The Majority awarded the Respondent an amount of Rs.
    1,22,80,984/- along with pendente lite interest @10% per annum,
    calculated as simple interest, from 21.02.2013 till the date of the

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    award. In addition, the learned Arbitral Tribunal also awarded simple
    interest @10% per annum from the date of award till the date of
    payment in respect of the principal amount of the award, with the
    provision that no future interest would be payable if the awarded
    amounts are paid within three months after the date of award.

    20. The Petitioner, aggrieved by the said Majority award, i.e., the
    Impugned Award, has preferred the present Petition to set aside the
    Award on the grounds, inter alia, on the ground that the Award is
    contrary to the terms of the Contract and suffers from patent illegality.

    CONTENTIONS ON BEHALF OF THE PETITIONER:

    21. Learned senior counsel appearing on behalf of the Petitioner
    would, at the outset, submit that the Impugned Award is vitiated by
    patent illegality and perversity, inasmuch as the learned Majority
    Tribunal has adopted an interpretation of the contractual provisions
    which is contrary to the express terms of the Contract, ignores the
    contractual framework in its entirety, and leads to manifestly
    unreasonable and unworkable consequences.

    22. Learned senior counsel for the Petitioner would submit that the
    Impugned Award, being rendered prior to the 2015 Amendment, is
    liable to be tested within the contours of „public policy of India‟ as
    expansively interpreted by judicial precedents.

    Erroneous Interpretation of Clause 10CC

    23. Learned senior counsel would submit that the present dispute
    lies in a narrow compass and turns entirely upon the interpretation of
    Clause 10CC of the GCC, specifically the expression “stipulated
    period of completion”.

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    24. Learned senior counsel would submit that the learned majority
    Tribunal has fundamentally erred in construing the said expression to
    mean the overall project completion period of 42 months, instead of
    interpreting it component-wise, as envisaged under the Contract.

    25. Learned senior counsel would submit that the interpretation
    adopted by the learned Majority Tribunal is not a plausible view, but
    one that is contrary to the contractual scheme and settled principles of
    contractual interpretation. It would be urged that Clause 10CC, when
    read harmoniously with the other provisions of the Contract, admits of
    only one reasonable interpretation, namely, that the “stipulated period
    of completion” must be understood with reference to each component
    of the project, and not the project as a whole.

    Contractual Scheme envisages a Component-wise Structure

    26. In order to substantiate the aforesaid interpretation of Clause
    10CC, learned senior counsel for the Petitioner would draw the
    attention of this Court to various Clauses of the Contract and the
    Tender Documents to contend that the project was consciously
    structured into distinct components, each operating independently, and
    each envisaging a separate stipulated period of completion.

    27. Learned senior counsel for the Petitioner would first draw the
    attention of this Court to Schedule F to the GCC. It would be
    contended that the Table, as set out in Clause 5 of Schedule F of the
    GCC, clearly delineates the project into multiple components and
    prescribes distinct timelines for completion of each component and its
    sub-stages. The relevant portion of the said table is reproduced herein
    under for ready reference:

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    Milestones
    Foundation Sub-Structure Super Structure
    Compone Time Amount Time Amount Time Amount
    nts of Allow INR in Allow INR in Allow INR in
    Work ed in Lakhs to ed in Lakhs to ed in Lakhs to
    Month be with- Month be with- Month be with-

                                     s       held in     s        held in     s        held in
                                     (from case of       (from case of        (from case of
                                     date of non-        date of non-         date of non-
                                     start)  achievem    start)   achievem    start)   achievem
                                             ent of               ent of               ent of
                                             milestone            milestone            milestone
                        I. Straight     12     30.00        15       30.00       24      60.00
                        flyover
                        along outer
                        Ring Road
                        on       the
                        western
                        side
                        II.Flyover      15     30.00       18       30.00       30         60.00
                        at Khajuri
                        Khas
                        Intersectio
                        n on the
                        Eastern
                        side
                        III.Remain      24     50.00       27       50.00       42        100.00
                        ing grade
                        separators
                        IV.Main Embankment                       The complete earth work
                                                                 including subgrade shall be
                                                                 completed within 24 months
                                                                 otherwise Rs.200 lakhs will be
                                                                 withheld.
    
    
    

    28. Further, learned senior counsel for the Petitioner would draw
    the attention of this Court to Clause 5 of the GCC, to be read with
    Schedule F, which, according to him, clearly prescribes separate
    milestones and distinct periods of completion. Learned senior counsel
    would draw the attention of this Court to a specific portion of Clause 5

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    to contend that time was the essence of this Contract and that it was
    not as a singular or indivisible timeline, but as a structured,
    component-wise obligation. The relevant portion of Clause 5 is
    reproduced herein under for ready reference:

    “Clause 5
    Time and Extension for delay
    The time allowed for execution of the works as specified in the
    Schedule „F‟ or the extended time in accordance with these
    conditions shall be the essence of the Contract. The execution of
    the works shall commence from such time period as mentioned in
    Schedule „F‟ or from the date of handing over of the site,
    whichever is later. If the Contractor commits default in
    commencing the execution of the work as aforesaid, DTTDC shall,
    without prejudice to any other right or remedy available in law, be
    at liberty to forfeit the earnest money and performance guarantee
    absolutely.

    **** ”

    29. Learned senior counsel for the Petitioner would then rely upon
    Paragraph No. 4 of the Acceptance letter dated 27.05.2008 to
    reinforce the contention that the Project was always intended to be
    completed component-wise in terms of the corresponding period of
    completion of each component. It would therefore be submitted that
    component-wise execution was not only contractually envisaged but
    also expressly communicated between the parties. Further, it would be
    submitted that the Acceptance Letter is also stated to form part of the
    Contract. The relevant portion of the Acceptance Letter, relied upon
    by the Petitioner, is reproduced herein under:

    ” ***

    4. Please note that the time allowed for carrying out the work as
    entered in the tender is as under

    (a). Twenty Four Months for the main straight flyover along outer
    ring road on the western side

    (b). Thirty months for flyover at Khajuri Khas intersection on the
    Eastern side

    (c). Forty Two Months for overall completion

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    Time period shall be reckoned from the 22 days after the date of
    issue of this Letter.”

    30. Learned senior counsel for the Petitioner would then draw the
    attention of this Court to Clause 2 of the GCC, which provides for the
    compensation to the Petitioner, in the event of delay in completion of
    work as against the stipulated time period of completion. Learned
    senior counsel would contend that Clause 2 specifically contemplates
    delays in respect of “items or group of items for which a separate
    period of completion has been specified”. Learned senior counsel
    would therefore submit that compensation for delayed work was also
    stipulated to be calculated component-wise, as per the respective
    timelines provided in Schedule F.

    31. Learned senior counsel for the Petitioner would next draw the
    attention of this Court to Clause 2A of the GCC, which provides for
    incentives for early completion. It would be submitted that Clause 2A
    also recognises independent timelines for each component by granting
    component-wise incentives. A component was to be considered to be
    completed early, as per the clause, if the relevant component is ready
    for traffic movement, before the stipulated timeline provided for
    completion of the component as per Schedule F. Learned senior
    counsel would contend that if early completion, and incentives
    thereto, is assessed component-wise then its natural corollary is that
    completion after the said time period of each component respectively
    would be belated completion i.e., in extension period. The said clause
    is reproduced herein under for ready reference:

    “Clause 2A
    Incentive for early completion

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    In case the contractor completes the work ahead of scheduled
    completion time as indicated in Schedule „F‟, a bonus shall be
    payable to the contractor as indicated below:

    (a) Rs. one lakh fifty thousand per day for completing the main
    straight flyover along the Outer Ring Road on the western side
    earlier than 24 months from the date of start, subject to a
    maximum of Rs. 150 lakh.

    (b) Rs. one lakh fifty thousand per day for completing the flyover
    at Khajuri Khas intersection on the eastern side earlier than 30
    months from the date of start, subject to a maximum of Rs. 150
    lakh.

    The bonus, if payable, in case of (a) and (b) above shall be
    paid after completion of the respective flyover.

    (c) Rs. two lakh per day for overall completion of the work earlier
    than 42 months subject to a maximum of Rs. 500 lakhs.
    The amount of bonus, if payable, in case of (c) above shall be
    paid after completion of the work as mentioned above.
    The completion for this clause shall mean that relevant portion of
    work is ready for traffic movement.”

    32. Learned senior counsel would thus submit that the contractual
    framework unmistakably reflects a component-wise structure, and any
    interpretation of Clause 10CC which ignores this framework renders
    the Contract internally inconsistent.

    Effect of the Interpretation Adopted by the learned Majority Tribunal

    33. Learned senior counsel for the Petitioner would submit that
    Clause 10CC provides for escalation only up to the stipulated period
    of completion, and for work executed during the „justified‟ extended
    period, such escalation is stated to be capped at the rates prevailing at
    the stipulated date of completion or the actual period of execution,
    whichever is lower. The relevant portion of Clause 10CC is
    reproduced herein under for ready reference:

    “10CC
    Payment due to increase/decrease in prices/wages after receipt
    of tender for works

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    If the prices of materials (not being materials supplied or services
    rendered at fixed prices by the department in accordance with
    clause 10 and 34 thereof) and/or wages of labour required for
    execution of the work increase, the contractor shall be compensated
    for such increase as per provision detailed below and the amount of
    the contract shall accordingly be varied, subject to the condition
    that such compensation for escalation in prices and wages shall be
    available only for the work done during the stipulated period of the
    contract including the justified period extended under the
    provisions of Clause 5 of the contract without any action under the
    clause 2. However, for the work done during the justified period
    extended as above, the compensation as detailed below will be
    limited to prices/ wages prevailing at the time of stipulated date of
    completion or as prevailing for the period under consideration,
    which ever is less. No such compensation shall be P payable for a
    work for which the stipulated period of completion is equal to or
    less then the time as specified in Schedule -F. Such compensation
    for escalation in the prices of materials and labour when due, shall
    be worked out based on the following provisions:

    i) The base date of working out such escalation shall be the
    last stipulated date of receipt of tender including extension, if any.

    ***** ”

    34. Learned senior counsel for the Petitioner would contend that the
    term „stipulated period of completion‟ must necessarily align with the
    component-wise timelines prescribed under Schedule F and as
    communicated between the parties in the Acceptance Letter. Any
    interpretation treating the entire project as having only a single
    completion date defeats the operation of Clause 10CC and results in
    the distortion of the escalation mechanism.

    35. Learned senior counsel would submit that the interpretation
    adopted by the learned Majority Tribunal, therefore, effectively
    nullifies the component-wise timelines and renders Clauses 2, 5 and
    Schedule F otiose, which is impermissible in law, thereby rendering
    the award „patently illegal‟.

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    Challenge to the Findings on Interpretation by the learned Majority
    Tribunal

    36. In the aforesaid backdrop, learned senior counsel for the
    Petitioner would then proceed to draw the attention of this Court to
    the findings and interpretations adopted by the learned Majority
    Tribunal. It would be thus contended that the said findings,
    particularly those relating to the interpretation of „stipulated period of
    completion‟ and Clause 10CC and allied clauses, are contrary to the
    express terms of the Contract, disregard the contractual scheme in its
    entirety, and consequently suffer from patent illegality warranting
    interference under Section 34 of the Act.

    37. Learned senior counsel for the Petitioner would, in this regard,
    contend that the findings recorded by the learned Majority Tribunal in
    Paragraphs D to F of the Impugned Award as being legally untenable
    and internally inconsistent. The said Paragraphs are reproduced herein
    under for ready reference:

    “D. The term ‘Contract’ as defined in clause 1 of Vol.1 of 4 of
    contract agreement is that all documents forming the tender and
    acceptance thereof taken together shall be deemed to form one
    contract. By this definition, stipulated period of the contract can
    only mean overall completion of 42 months and stipulated date of
    completion is 17.12.2011 which is 42 months after the date of
    commencement of 18.06.2008.

    E. Secondly, this is a Lump Sum contract with a single Lump Sum
    Tendered Value for whole of the contract. Contract does not
    provide for separate tendered values for the components. Schedule
    of Quantities given in the Annexure-I of the contract gives the
    quantities for the contract as a whole and there is no break up for
    the quantities of the components. The contract also provides for
    stage payments as percentages of lump sum cost in Annexure-III
    which is thus only applicable on the contract as a whole and not on
    components. AT has noted that the Annexure-I contains only
    quantities of main items and not all items of work represented by
    the lump sum amount. Therefore, for making interim payments
    within the stages set out in the billing schedule, clause 3.38 of the

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    Special Conditions of Contract provides that payments can be
    made on the basis of work assessed by the Engineer-in-charge by
    considering the quantum of total work involved as per Annexure-I
    of Vol.4 of the tender documents and the quantum of work actually
    executed at a particular point of time (within that stage) for such
    items and a formula prescribed for such assessment is (Y/X)Z.
    Where X is equal to value of total work involved as per main items
    in a particular stage of billing schedule worked out by multiplying
    the total quantity of main items with the rate quoted by the
    contractor in Annexure 2 of Vol. 4 of the tender document for all
    such main items in a particular stage of billing schedule. Y is equal
    to value of work at a point of time as per main items of work
    within a particular stage of billing schedule ie. quantity of main
    items executed at a point of time multiplied by the rate as per
    Annexure 2, for all such items in a particular stage of billing
    schedule. Z is equal to amount payable as per billing schedule in a
    particular stage of payment as given in Annexure-III.
    F. Obviously, this contract provision for interim payments or
    Running Account bill payments, as it is generally referred to, is
    applicable to the contract as a whole and cannot be made
    applicable for any component. Had it been the intention of the
    contract to make interim payments component wise, then the
    contract would have either provided for separate lump sum
    tendered value for the two components apart from the lump sum
    value for the work as a whole and would also have specified
    separate schedule of quantities of the main items for the
    components or separate percentages for stage payments for the
    components. In absence of either of the above alternatives, it is
    clear that the contract does not provide for any means to make
    interim. payments for the components separately. In accordance
    with the provisions of clause 10CC, the contractor shall be
    compensated for any increase in prices of materials and/or wages
    of labour required for execution of the work and the amount of the
    contract shall be varied etc. As it is a lump sum contract with single
    tendered value, amount of contract mentioned as above in the
    clause may only mean the amount of the whole work and not the
    amount of any component.”

    38. Learned senior counsel, in the context of Paragraph D of the
    Impugned Award, would submit that the learned Majority Tribunal
    has erred in relying upon the definition of “Contract” to conclude that
    the “stipulated period of completion”, and the only period for
    completion, is 42 months for the entire project. It would be contended

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    that the said definition clause merely provides that all the documents
    forming part of the tender and its acceptance shall be read together as
    constituting one composite contract. Such a provision, it would be
    urged, cannot be elevated to determine the substantive and operative
    aspects of the Contract, particularly the interpretation of “stipulated
    period of completion” under Clause 10CC.

    39. Learned senior counsel would further submit that the learned
    Majority Tribunal has misconstrued the scope of the definition clause
    by reading into it a limitation that the Contract admits of only a single
    stipulated period of completion. It would be contended that the
    expression “one contract” cannot be equated with “one period of
    completion”, particularly when the Contract, read as a whole,
    expressly contemplates component-wise execution with distinct
    timelines.

    40. While it is not disputed that the overall completion period of 42
    months governs the outer limit of the project, learned senior counsel
    would emphasise that the learned Majority Tribunal has erred in
    treating the same as the sole and determinative benchmark for all
    purposes, including the operation of Clause 10CC. Such an
    interpretation, it would be submitted, disregards the component-wise
    milestones and timelines expressly provided under the Contract, and
    thereby renders those provisions otiose.

    41. Learned senior counsel would then assail the findings returned
    in Paragraphs E and F, contending that the learned Majority tribunal
    has misplaced reliance on the fact that the Contract is a lump sum
    contract. It would be submitted that the existence of a single lump sum
    value of the tender does not negate the existence of component-wise

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    obligations, timelines, or consequences; the same has been established
    by way of reading of the Clauses 2, 2A, 5 and Schedule F herein
    before, and therefore the reasoning adopted erroneously conflates
    valuation with execution structure.

    42. Learned senior counsel would contend that the conclusions
    drawn in Paragraphs E and F are untenable in law, unreasonable and
    arbitrary, as it is general practice in issuing tenders that the tendered
    value is provided for the projects as a whole, unaffected by the terms
    of its implementation. Therefore, it would be submitted that the
    absence of a separate valuation cannot be escalated to the implication
    of the absence of component-wise completion.

    Challenge to the Findings Based on Unpleaded Submissions

    43. Further, learned senior counsel for the Petitioner would contend
    that the findings recorded in Paragraphs G to J of the Impugned
    Award are vitiated on account of reliance on submissions which were
    not part of the Statement of Claims, as filed by the Respondent before
    the learned Arbitral Tribunal. The Paragraphs G to J of the Impugned
    Award are reproduced hereinunder for ready reference:

    “G. Clause 10CC prescribes the formulae to work out the
    compensation for escalation for various materials, labour etc. and
    these formulae take into account the cost of work on which
    escalation is payable. The cost of work done is again based on the
    Gross Value of work done in every quarter and as shown in the
    foregoing, gross value for the work as a whole can only be worked
    out as per the contract provision and the contract does not afford
    any method to work out gross value of the components separately.
    It may thus be safely concluded that the contract does not indicate
    any intention to work out the escalation amount for the components
    separately and Clause 10CC provisions are only applicable for the
    contract as a whole.

    H. The Respondent’s arguments in this respect is that the Claimant
    on its own submitted escalation statements for the period beyond
    the stipulated date of completion of individual components in

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    which the Claimant worked out the gross value of each component
    based on the quantities executed separately for each component.
    Respondent also argued that 20 numbers of escalation statements
    over 60 months from the date of start have been submitted by the
    Claimant and paid by the Respondent and the same have been
    accepted by both parties so far. The above statement of the
    Respondent implies that the methodology for working out the gross
    value of work of each components and escalation amount of each
    component has been adopted by mutual consent and the amounts of
    escalation have been correctly paid in accordance with the contract.
    I. This position has been vehemently contradicted by the Claimant
    who points out that from the very beginning till the period of Feb
    2011, all bills of escalation were prepared on the overall gross
    amount and paid by the Respondent without any objection. The bill
    for the quarter March to May was also prepared on a similar basis
    and submitted for payment in July 2011. But consequent to an
    internal audit of the project conducted by AG (AUDIT) Delhi in
    July 2011 in which they raised observations holding the method of
    payment as improper on the ground that under clause 10CC
    escalation was available differently fe the three components of
    work with different time allowed for carrying out the work, the
    Respondent Engineer-in-charge in a follow up meeting with the
    Claimant asked for revision of all the escalation bills rained/paid
    till that time considering different dates of completion for the three
    components of work. The Claimant argued that they considered the
    instructions as against the provision of clause 10CC but were
    forced to prepare statements on the above lines from then onwards
    under pressure of the Respondent and in the interest of cash Bow.
    Claimant, however, sent written representation to the Executive
    Engineer of Respondent by letter dated 21.09.2011.
    J. We have no difficulty in accepting the above explanation of
    Claimant as it is quite understandable that during progress of work
    the Claimant could not risk delays in payment and had to prepare
    hills in the manner acceptable to the Respondent. But the fact
    remains that soon after on 21.09.2011 the Claimant had disputed
    the application of clause 10CC provisions in the manner directed
    by the Claimant which ultimately lead to the dispute to be
    adjudicated by this AT. Thus we find that the escalation bills paid
    on the basis of gross value of three separate components is neither
    according to contract provisions nor by mutual consent.”

    44. Learned senior counsel for the Petitioner, in context of the
    aforestated findings, would contend that the learned Majority tribunal
    has accepted the Respondent‟s case that escalation bills were revised

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    to component-wise escalation, after the Audit of Petitioner in July,
    2011, under compulsion and commercial pressure during the
    execution of the project. However, it would be contended that no such
    foundational plea was taken in the Statement of Claim by the
    Respondent.

    45. Learned senior counsel would submit that the learned Majority
    tribunal has thus proceeded to adjudicate upon a case not pleaded in
    their Statement of Claim, thereby taking the Petitioner by surprise and
    depriving it of an opportunity to effectively respond.

    46. Learned senior counsel would therefore urge that the findings in
    Paragraphs G to J constitute a clear violation of the principles of
    natural justice, rendering the said findings perverse, affecting the root
    of the matter and thus vulnerable under Section 34 of the Act.

    The award falls within the Scope of „Patent Illegality‟

    47. Learned senior counsel for the Petitioner would, in light of the
    foregoing grounds and contentions, submit that the findings of the
    learned Majority Tribunal are contrary to the material on record,
    inasmuch as the Tribunal has ignored the contractual documents
    which unequivocally demonstrate the component-wise structure of the
    project, and therefore the Impugned Award squarely falls within the
    scope of patent illegality and perversity which goes to the very root of
    the matter, as the learned Majority Tribunal ignored the vital evidence
    placed on record, and because it violates fundamental principles of
    natural justice.

    48. In this regard, reliance is placed by the learned senior counsel
    on the Judgement of the Hon‟ble Supreme Court in Delhi Metro Rail

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    Corporation Limited vs. Delhi Airport Metro Express Private
    Limited11
    , and specifically Paragraph No. 39 thereof. The same is
    reproduced hereunder for ready reference:

    “39. In essence, the ground of patent illegality is available for
    setting aside a domestic award, if the decision of the arbitrator is
    found to be perverse, or so irrational that no reasonable person
    would have arrived at it; or the construction of the contract is such
    that no fair or reasonable person would take, or, that the view of the
    arbitrator is not even a possible view. A “finding” based on no
    evidence at all or an award which ignores vital evidence in arriving
    at its decision would be perverse and liable to be set aside under the
    head of “patent illegality”. An award without reasons would suffer
    from patent illegality. The arbitrator commits a patent illegality by
    deciding a matter not within his jurisdiction or violating a
    fundamental principle of natural justice.”

    49. Further, learned senior counsel for the Petitioner would place
    reliance on the Judgement of the Hon‟ble Supreme Court in South
    East Asia Marine Engineering and Constructions Limited
    (SEAMEC Limited) vs. OIL India Limited12
    , to submit that the
    Hon‟ble Supreme Court has interfered with the interpretation of an
    Arbitral Tribunal where the interpretation of the Arbitral Tribunal was
    considered to be too wide than what the contract stipulated it to be. In
    this regard, reliance would be placed on Paragraph Nos. 28 to 30 of
    the said Judgement, which are reproduced hereunder for ready
    reference:

    “28. In this context, the interpretation of Clause 23 of the contract
    by the Arbitral Tribunal, to provide a wide interpretation cannot be
    accepted, as the thumb rule of interpretation is that the document
    forming a written contract should be read as a whole and so far as
    possible as mutually explanatory. In the case at hand, this basic rule
    was ignored by the Tribunal while interpreting the clause.

    29. The contract was entered into between the parties in furtherance
    of a tender issued by the respondent herein. After considering the

    11
    (2024) 6 SCC 357
    12
    (2020) 5 SCC 164

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    tender bids, the appellant issued a letter of intent. In furtherance of
    the letter of intent, the contract (Contract No. CCO/FC/0040/95)
    was for drilling oil wells and auxiliary operations. It is important to
    note that the contract price was payable to the “contractor” for full
    and proper performance of its contractual obligations. Further,
    Clauses 14.7 and 14.11 of the contract state that the rates, terms
    and conditions were to be in force until the completion or
    abandonment of the last well being drilled.

    30. From the aforesaid discussion, it can be said that the contract
    was based on a fixed rate. The party, before entering the tender
    process, entered the contract after mitigating the risk of such an
    increase. If the purpose of the tender was to limit the risks of price
    variations, then the interpretation placed by the Arbitral Tribunal
    cannot be said to be possible one, as it would completely defeat the
    explicit wordings and purpose of the contract. There is no
    gainsaying that there will be price fluctuations which a prudent
    contractor would have taken into margin, while bidding in the
    tender. Such price fluctuations cannot be brought under Clause 23
    unless specific language points to the inclusion.”

    50. Learned senior counsel would submit that in the pre-2015
    Amendment regime, an award which was patently illegal, contrary to
    the terms of the contract or based on no evidence, falls within the
    ambit of „public policy of India‟ as elucidated in ONGC Ltd. v. Saw
    Pipes Ltd.13and subsequent decisions.

    51. Learned senior counsel appearing on behalf of the Petitioner,
    while concluding his arguments, would submit that the Impugned
    Award is liable to be set aside under Section 34 of the Act, as the
    learned Majority Tribunal has failed to interpret the Contract in
    accordance with its express terms, has adopted an implausible and
    legally untenable view, and has rendered findings which are perverse
    and contrary to the fundamental principles governing arbitral
    adjudication.

    13

    (2003) 5 SCC 705

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    CONTENTIONS ON BEHALF OF THE RESPONDENT:

    52. Learned senior counsel appearing on behalf of the Respondent
    would, at the outset, submit that the present Petition proceeds on an
    erroneous premise that the interpretation adopted by the learned
    Majority Tribunal is impermissible in law. It would be contended that
    the interpretation of Clause 10CC, as undertaken by the learned
    Majority Tribunal, is a plausible and reasonable view, rooted in the
    contractual framework and therefore does not warrant interference
    under Section 34 of the Act.

    Correct Interpretation of Clause 10CC

    53. Learned senior counsel would submit that the dispute
    essentially pertains to the interpretation of the expression “stipulated
    period of completion” under Clause 10CC of the GCC. It would be
    contended that the learned Majority Tribunal, upon a holistic reading
    of the Contract, has correctly construed the said expression to mean
    the overall completion period of the project of 42 months.

    54. Learned senior counsel would urge that merely because an
    alternative interpretation is possible, the same would not justify
    interference with the Impugned Award. The limited and circumscribed
    scope of judicial review under Section 34, as succinctly settled by a
    plethora of judicial precedents, does not permit substitution of the
    Court‟s interpretation in place of that adopted by the learned Majority
    Tribunal, so long as the view taken is a plausible one.

    55. Learned senior counsel would further contend that the burden
    lies on the Petitioner to demonstrate that the interpretation adopted by
    the learned Majority Tribunal is wholly unreasonable or perverse. The

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    interpretation advanced by the Petitioner, based on Clauses 2, 2A, 5,
    Schedule F and Clause 10CC, at best represents an alternative view,
    which by itself cannot form a ground for interference under Section 34
    of the Act.

    Plausible view of the Contractual Scheme taken by the learned
    Majority Tribunal

    56. Learned senior counsel for the Respondent would submit that
    the reliance placed by the Petitioner on component-wise milestones
    and timelines is misplaced. It would be contended that such provisions
    are intended for the purposes of execution, monitoring, and
    incentivization, and cannot be determinative of the interpretation of
    Clause 10CC.

    57. Learned senior counsel would contend that the Contract
    consciously distinguishes between provisions governing execution
    and those governing financial adjustments, while Clauses 2, 2A and
    Schedule F operate in the domain of performance, milestones and
    incentives, Clause 10CC operates independently as a price adjustment
    mechanism. The mere existence of component-wise timelines does not
    compel a similar interpretation for escalation, particularly in the
    absence of any express provision to that effect.

    58. It would be further submitted that the Contract is a lump sum
    contract with a single tendered value and a unified structure. In such a
    contractual framework, the expression “stipulated period of
    completion” can reasonably be construed only with reference to the
    project as a whole, and not component-wise.

    59. Learned senior counsel would submit that the Petitioner‟s
    attempt to read Clause 10CC in isolation, by merely importing a

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    component-wise interpretation from other clauses, is contrary to
    settled principles of contractual interpretation, which require the
    Contract to be read as a whole and each clause to be given its
    contextual meaning.

    60. Learned senior counsel would contend that the component-wise
    timelines continue to operate for the purposes of execution and
    incentives, whereas Clause 10CC operates independently in the
    context of escalation. The two operate in distinct spheres and do not
    overlap in the manner suggested by the Petitioner.

    61. Learned senior counsel for the Respondent would submit that
    the interpretation adopted by the learned Majority Tribunal does not
    render any provision of the Contract otiose or redundant.

    62. Learned senior counsel would urge that the interpretation
    advanced by the Petitioner would, in fact, lead to inconsistency in the
    application of the escalation clause and disturb the uniformity
    intended under the Contract.

    63. Learned senior counsel for the Respondent would further
    submit that even assuming arguendo that the Contract was capable of
    being interpreted in the manner canvassed by the Petitioner, namely,
    that the “stipulated period of completion” was to operate component-
    wise and not with reference to the project as a whole, the conduct of
    the Petitioner during the subsistence of the Contract belies such an
    interpretation.

    64. Learned senior counsel would submit that it was only pursuant
    to an internal audit conducted by the office of the AG (Audit), Delhi,
    in July 2011, wherein an objection was raised regarding the method of
    computation under Clause 10CC, that the Petitioner sought to alter its

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    position. Thereafter, the Petitioner directed revision of the escalation
    bills by adopting a component-wise approach, thereby retrospectively
    seeking to apply a different interpretation of the clause.

    65. Learned senior counsel for the Respondent would therefore
    contend that the conduct of the Petitioner demonstrates that the
    Contract was not understood or operated in the manner now sought to
    be canvassed. The subsequent shift in interpretation, it would be
    urged, is clearly an afterthought, prompted by audit observations, and
    cannot be permitted to unsettle the contractual understanding which
    governed the parties during execution.

    66. Learned senior counsel would thus submit that the
    contemporaneous conduct of the parties not only lends support to the
    interpretation adopted by the learned Majority Tribunal, but, at the
    very least, also establishes that multiple plausible interpretations were
    possible, thereby preventing the Impugned Award from the limited
    scope of interference under Section 34 of the Act.

    Plausible Findings of the learned Majority Tribunal

    67. Learned senior counsel for the Respondent would submit that
    the findings recorded by the learned Majority Tribunal in Paragraphs
    D to F of the Impugned Award are based on a correct and reasonable
    appreciation of the contractual framework.

    68. Learned senior counsel would contend that the learned Majority
    Tribunal has rightly relied upon the definition of “Contract” to
    conclude that all documents forming part of the tender constitute a
    composite Agreement, and that the “stipulated period of completion”

    must be understood in that unified context.

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    69. Learned senior counsel would further submit that the
    conclusions drawn by the learned Majority Tribunal with respect to
    the Lump sum nature of the Contract and the absence of any separate
    mechanism for component-wise valuation or computation are rational
    and borne out by the Contract itself.

    70. Learned senior counsel would therefore contend that the said
    findings, as assailed by the Petitioner, are neither arbitrary nor
    perverse, but represent a plausible interpretation of the Contract.

    Findings based on Allegedly Unpleaded Submissions

    71. Learned senior counsel for the Respondent would strongly
    refute the contention of the Petitioner that the findings recorded in
    Paragraphs G to J are based on unpleaded submissions.

    72. Learned senior counsel would contend that the issue relating to
    the manner in which escalation bills were raised and subsequently
    revised was very much part of the record before the learned Arbitral
    Tribunal. The Respondent had specifically addressed this aspect in its
    Re-joinder to the Statement of Defence.

    73. Learned senior counsel would, in this regard, draw the attention
    of this Court to Paragraph No. 2.16 of the said Re-joinder, wherein it
    was clearly asserted that the revision of escalation bills into
    component-wise format was undertaken under compulsion and
    commercial pressure, particularly in light of the directions issued
    following the Audit. The relevant portion of the Re-joinder is
    reproduced herein under for ready reference:

    “2.16 The Respondent’s contention that the escalation statement no.
    9 for the period June’10- Aug’10 onwards were supposed to be
    prepared after working out gross value of work done separately for
    3 components of the work as per agreement provisions but M/s

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    Gammon India Limited could not do so, is entirely incorrect and
    misrepresentation of facts. In fact the claimant has all along been
    maintaining that contractually there will be only one gross value of
    work done and no separate billing, component wise. The
    Respondent also never instructed the claimant for submission of
    separate bills for components of work until receipt of CAG report.
    It was only after the Respondent received the CAG report in
    July’2011 that they insisted upon the claimant to submit the
    trifurcated bill for three components of work failing which, the
    escalation bill would not be processed. This was an act of coercion
    on the part of the Respondent which, in the interest of cash flow,
    the claimant was compelled to submit trifurcation of the overall
    interim bills for the ease of verification of measurement only and
    not for the sake of working out escalation component wise. Thus,
    the department used coercive measures to achieve their goal which
    the contractor has never contractually admitted.”

    74. Learned senior counsel for the Respondent would, in order to
    substantiate that they were not in agreement with the way in which
    escalation charges were stated to operate after July, 2011, contend that
    the Respondent had, at the earliest opportunity, disputed the said
    mode of computation, including by way of a letter dated 21.09.2011
    addressed to the Superintending Engineer, thereby demonstrating that
    such revision was neither voluntary nor reflective of the contractual
    position and that the change in operation of Clause 10CC was not
    justified and was contrary to the contract as entered into between the
    parties.

    75. Learned senior counsel would submit that these facts were part
    of the pleadings and the evidentiary record, and the Petitioner was
    fully aware of the same. It is therefore incorrect to contend that the
    learned Majority Tribunal has relied upon a case not pleaded and thus
    would submit that no violation of Principles of Natural Justice has
    occurred, nor has any prejudice been caused to the Petitioner.

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    No Grounds for Interference under Section 34

    76. Learned senior counsel for the Respondent, in light of the
    foregoing submissions, would submit that the scope of interference
    under Section 34 of the Act is very limited and circumscribed, and
    when an Arbitral Tribunal takes a plausible view of a case before it,
    interference under Section 34 of the Act would not be permissible by
    the Courts. Learned senior counsel would contend that the present
    Petition, being governed by the pre-2015 Amendment regime, must be
    tested within the limited contours of “public policy of India” as
    interpreted by various judicial precedents.

    77. Learned senior counsel for the Respondent would then advert to
    the reliance placed by the Petitioner on the decision in SEAMEC
    Limited
    (supra), and would submit that the same is wholly
    distinguishable on facts as well as the nature of the clause under
    consideration therein.

    78. Learned senior counsel would contend that the clause
    interpreted in the said judgment was materially different from Clause
    10CC in the present case. The clause therein contemplated escalation
    “only in the event of a change in law or interpretation of existing
    law”, and was thus in the nature of a force majeure or contingency
    based provision as opposed to Clause 10CC of the present Contract,
    which is a price variation clause which specifically provides for
    escalation on account of fluctuations in market conditions, including
    changes in prices of labour and materials. The scope, purpose and
    operation of the two clauses are therefore fundamentally distinct.

    79. Learned senior counsel would submit that the ratio in SEAMEC
    Limited
    (supra) was rendered in the context of a clause which did not

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    contemplate general market-driven escalation, and therefore cannot be
    applied to Clause 10CC of the present Contract, which expressly
    provides for such variation. In these circumstances, it would be
    submitted that the reliance placed by the Petitioner is misplaced and
    does not advance their case.

    80. Learned senior counsel for the Respondent would submit that
    the findings returned by the learned majority Tribunal are based on a
    plausible interpretation of the contractual provisions and appreciation
    of material on record, and therefore do not warrant interference under
    Section 34 of the Act.

    81. In view of the aforesaid submissions, learned senior counsel for
    the Respondent would, while concluding, submit that the present
    Petition is devoid of merit and does not disclose any ground disclosing
    patent illegality or perversity going to the root of the matter, so as to
    warrant interference under Section 34 of the Act for being against the
    “public policy of India”, and therefore would submit that the present
    Petition be dismissed and the Impugned Award be upheld.

    ANALYSIS:

    82. This Court has heard the learned senior counsel for both parties
    and, with their able assistance, perused the material available on
    record.

    83. The controversy, in essence, lies in a narrow compass. The
    principal issue which arises for consideration is whether the
    interpretation accorded by the learned Majority Tribunal to the
    expression “stipulated period of completion” under Clause 10CC is so

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    implausible or unreasonable so as to warrant interference under
    Section 34 of the Act.

    Scope of Interference under Section 34

    84. At the outset, this Court deems it apposite to underscore that it
    remains acutely conscious that the jurisdiction exercised by this Court
    under Section 34 of the Act is merely supervisory. The Court does not
    sit in appeal over the findings returned by an arbitral tribunal, nor does
    it undertake re-appreciation of evidence or re-interpretation of
    contractual terms merely because an alternative view may be possible.
    The legislative intent underlying Section 34 is to accord finality to the
    arbitral adjudication, subject only to a narrow and circumscribed
    scope of intervention. This limitation is not merely procedural but
    goes to the very architecture of the arbitral regime.

    85. The Impugned Award having been rendered on 12.12.2013, i.e.,
    prior to coming into force of the Arbitration and Conciliation
    (Amendment) Act, 2015
    , the challenge is required to be examined
    within the pre-amendment framework. Under the said regime, the
    expression “public policy of India” received an expanded
    interpretation, inter alia, in ONGC Ltd. v. Saw Pipes Ltd. (supra) and
    ONGC Ltd. v. Western Geco International Limited14, within which
    the concept of “patent illegality” was subsumed.

    86. Further, even within this expanded understanding, it is well
    settled that the illegality must be of such a nature as to go to the root
    of the matter and not be of a trivial or debatable nature. Mere

    14
    (2014) 9 SCC 263

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    erroneous application of law or the existence of an alternative
    interpretation is wholly insufficient.

    87. It must be borne in mind that the threshold for interference,
    particularly in cases involving the interpretation of contractual
    clauses, is deliberately set high. Contractual interpretation is not an
    exact science but an exercise in discerning commercial intent. Where
    two views are possible, the arbitral tribunal‟s view is not merely to be
    preferred, but is, in fact, immune from judicial substitution. The Court
    cannot don the robes of a second arbitrator and rewrite the bargain
    between the parties under the guise of judicial review. To do so would
    be to blur the well-settled distinction between appellate and
    supervisory jurisdiction, an approach consistently deprecated by the
    Hon‟ble Supreme Court. Therefore, judicial restraint in such matters is
    not an option, but a mandate.

    88. The jurisprudential position in this regard stands
    comprehensively restated by the Hon‟ble Supreme Court in OPG
    Power Generation (P) Ltd. v. Enexio Power Cooling Solutions
    (India) (P) Ltd.15
    , wherein it has been reiterated that interference with
    arbitral awards is permissible only where the award is vitiated by
    fundamental infirmities such as conflict with the public policy of
    India, perversity and patent illegality. The Court cautioned against
    converting proceedings under Section 34 of the Act into a forum for
    rehearing on merits. The pertinent observations, in this regard, are
    reproduced hereunder:

    15

    (2025) 2 SCC 417

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    “Relevant legal principles governing a challenge to an arbitral
    award

    30. Before we delve into the issue/sub-issues culled out above, it
    would be useful to have a look at the relevant legal principles
    governing a challenge to an arbitral award. Recourse to a court
    against an arbitral award may be made through an application for
    setting aside such award in accordance with sub-sections (2), (2-A)
    and (3) of Section 34 of the 1996 Act. Sub-section (2) of Section
    34
    has two clauses, (a) and (b). Clause (a) has five sub-clauses
    which are not relevant to the issues raised before us. Insofar as
    clause (b) is concerned, it has two sub-clauses, namely, (i) and (ii).

    Sub-clause (i) of clause (b) is not relevant to the controversy in
    hand. Sub-clause (ii) of clause (b) provides that if the Court finds
    that the arbitral award is in conflict with the public policy of India,
    it may set aside the award.

    Public policy

    31. “Public policy” is a concept not statutorily defined, though it
    has been used in statutes, rules, notification, etc. since long, and is
    also a part of common law. Section 23 of the Contract Act, 1872
    uses the expression by stating that the consideration or object of an
    agreement is lawful, unless, inter alia, opposed to public policy.
    That is, a contract which is opposed to public policy is void.

    *****

    35. In Renusagar Power Co. Ltd. v. General Electric Co., 1994
    Supp (1) SCC 644, a three-Judge Bench of this Court observed
    that the doctrine of public policy is somewhat open–textured and
    flexible. By citing earlier decisions, it was observed that there are
    two conflicting positions which are referred to as the “narrow
    view” and the “broad view”. According to the narrow view, courts
    cannot create new heads of public policy whereas the broad view
    countenances judicial law making in these areas. In the field of
    private international law, it was pointed out, courts refuse to apply
    a rule of foreign law or recognise a foreign judgment or a foreign
    arbitral award if it is found that the same is contrary to the public
    policy of the country in which it is sought to be invoked or
    enforced. However, it was clarified, a distinction is to be drawn
    while applying the rule of public policy between a matter governed
    by domestic law and a matter involving conflict of laws. It was
    observed that the application of the doctrine of public policy in the
    field of conflict of laws is more limited than that in the domestic
    law and the courts are slower to invoke public policy in cases
    involving a foreign element than when a purely municipal legal
    issue is involved. It was held that contravention of law alone will
    not attract the bar of public policy, and something more than
    contravention of law is required.

    *****

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    37. What is clear from above is that for an award to be against
    public policy of India a mere infraction of the municipal laws of
    India is not enough. There must be, inter alia, infraction of
    fundamental policy of Indian law including a law meant to serve
    public interest or public good.

    *****

    40. In ONGC Ltd. v. Western Geco International Ltd., (2014) 9
    SCC 263, paras 35, 38 & 39, which also related to the period prior
    to the 2015 Amendment of Section 34(2)(b)(ii), a three-Judge
    Bench of this Court, after considering the decision in ONGC
    Ltd. v. Saw Pipes Ltd.
    , (2003) 5 SCC 705, without exhaustively
    enumerating the purport of the expression “fundamental policy of
    Indian law”, observed that it would include all such fundamental
    principles as providing a basis for administration of justice and
    enforcement of law in this country. The Court thereafter
    illustratively referred to three fundamental juristic principles,
    namely:

    (a) that in every determination that affects the rights of a citizen or
    leads to any civil consequences, the court or authority or quasi-

    judicial body must adopt a judicial approach, that is, it must act
    bona fide and deal with the subject in a fair, reasonable and
    objective manner and not actuated by any extraneous
    consideration;

    (b) that while determining the rights and obligations of parties the
    court or Tribunal or authority must act in accordance with the
    principles of natural justice and must apply its mind to the
    attendant facts and circumstances while taking a view one way
    or the other; and

    (c) that its decision must not be perverse or so irrational that no
    reasonable person would have arrived at the same.

    41. In Associate Builders v. DDA, (2015) 3 SCC 49, a two-Judge
    Bench of this Court, held that audi alteram partem principle is
    undoubtedly a fundamental juristic principle in Indian law and is
    enshrined in Sections 18 and 34(2)(a)(iii) of the 1996 Act. In
    addition to the earlier recognised principles forming fundamental
    policy of Indian law, it was held that disregarding:

    (a) orders of superior courts in India; and

    (b) the binding effect of the judgment of a superior court would
    also be regarded as being contrary to the fundamental policy of
    Indian law.

    Further, elaborating upon the third juristic principle (i.e. qua
    perversity), as laid down inONGC Ltd. v. Western Geco
    International Ltd.
    , (2014) 9 SCC 263, it was observed that where:

    (i) a finding is based on no evidence; or

    (ii) an Arbitral Tribunal takes into account something irrelevant to
    the decision which it arrives at; or

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    (iii) ignores vital evidence in arriving at its decision, such decision
    would necessarily be perverse[Associate Builders case, (2015)
    3 SCC 49, para 31].

    To this a caveat was added by observing that when a court applies
    the “public policy test” to an arbitration award, it does not act as a
    court of appeal and, consequently, errors of fact cannot be
    corrected; and a possible view by the arbitrator on facts has
    necessarily to pass muster as the arbitrator is the ultimate master of
    the quantity and quality of evidence to be relied upon when he
    delivers his arbitral award. It was also observed that an award
    based on little evidence or on evidence which does not measure up
    in quality to a trained legal mind would not be held to be invalid on
    that score. Thus, once it is found that the arbitrator’s approach is
    not arbitrary or capricious, it is to be taken as the last word on
    facts.

    The 2015 Amendment in Sections 34 and 48

    42. The aforementioned judicial pronouncements were all prior to
    the 2015 Amendment. Notably, prior to the 2015 Amendment the
    expression “in contravention with the fundamental policy of Indian
    law” was not used by the legislature in either Section 34(2)(b)(ii) or
    Section 48(2)(b). The pre-amended Section 34(2)(b)(ii) and its
    Explanation read:

    *****

    44. By the 2015 Amendment, in place of the old Explanation to
    Section 34(2)(b)(ii), Explanations 1 and 2 were added to remove
    any doubt as to when an arbitral award is in conflict with the public
    policy of India.

    45. At this stage, it would be pertinent to note that we are dealing
    with a case where the application under Section 34 of the 1996 Act
    was filed after the 2015 Amendment, therefore the newly
    substituted/added Explanations would apply [SsangyongEngg. &
    Construction Co. Ltd. v. NHAI, (2019) 15 SCC 131].

    46. The 2015 Amendment adds two Explanations to each of the
    two sections, namely, Section 34(2)(b)(ii) and Section 48(2)(b), in
    place of the earlier Explanation. The significance of the newly
    inserted Explanation 1 in both the sections is two-fold. First, it does
    away with the use of words : (a) “without prejudice to the
    generality of sub-clause (ii)” in the opening part of the pre-

    amended Explanation to Section 34(2)(b)(ii); and (b) “without
    prejudice to the generality of clause (b) of this section” in the
    opening part of the pre-amended Explanation to Section 48(2)(b);
    secondly, it limits the expanse of public policy of India to the three
    specified categories by using the words “only if”.
    Whereas, Explanation 2 lays down the standard for adjudging
    whether there is a contravention with the fundamental policy of
    Indian law by providing that a review on merits of the dispute shall
    not be done. This limits the scope of the enquiry on an application

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    under either Section 34(2)(b)(ii) or Section 48(2)(b) of the 1996
    Act.

    47. The 2015 Amendment by inserting sub-section (2-A) in Section
    34
    , carves out an additional ground for annulment of an arbitral
    award arising out of arbitrations other than international
    commercial arbitrations. Sub-section (2-A) provides that the Court
    may also set aside an award if that is vitiated by patent illegality
    appearing on the face of the award. This power of the Court is,
    however, circumscribed by the proviso, which states that an award
    shall not be set aside merely on the ground of an erroneous
    application of the law or by reappreciation of evidence.

    48.Explanation 1 to Section 34(2)(b)(ii), specifies that an arbitral
    award is in conflict with the public policy of India, only if:

    (i) the making of the award was induced or affected by fraud or
    corruption or was in violation of Section 75 or Section 81; or

    (ii) it is in contravention with the fundamental policy of Indian law;

    or

    (iii) it is in conflict with the most basic notions of morality or
    justice.

    49. In the instant case, there is no allegation that the making of the
    award was induced or affected by fraud or corruption, or was in
    violation of Section 75 or Section 81. Therefore, we shall confine
    our exercise in assessing as to whether the arbitral award is in
    contravention with the fundamental policy of Indian law, and/or
    whether it conflicts with the most basic notions of morality or
    justice. Additionally, in the light of the provisions of sub-section
    (2-A) of Section 34, we shall examine whether there is any patent
    illegality on the face of the award.

    50. Before undertaking the aforesaid exercise, it would be apposite
    to consider as to how the expressions:

    (a) “in contravention with the fundamental policy of Indian law”;

    (b) “in conflict with the most basic notions of morality or justice”;

    and

    (c) “patent illegality” have been construed.

    In contravention with the fundamental policy of Indian law

    51. As discussed above, till the 2015 Amendment the expression
    “in contravention with the fundamental policy of Indian law” was
    not found in the 1996 Act. Yet, in Renusagar Power Co.
    Ltd. v. General Electric Co.
    , 1994 Supp (1) SCC 644, in the
    context of enforcement of a foreign award, while construing the
    phrase “contrary to the public policy”, this Court held that for a
    foreign award to be contrary to public policy mere contravention of
    law would not be enough rather it should be contrary to:

    (a) the fundamental policy of Indian law; and/or

    (b) the interest of India; and/or

    (c) justice or morality.

    *****

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    55. The legal position which emerges from the aforesaid discussion
    is that after “the 2015 Amendments” in Section 34(2)(b)(ii) and
    Section 48(2)(b) of the 1996 Act, the phrase “in conflict with the
    public policy of India” must be accorded a restricted meaning in
    terms of Explanation 1. The expression “in contravention with the
    fundamental policy of Indian law” by use of the word
    “fundamental” before the phrase “policy of Indian law” makes the
    expression narrower in its application than the phrase “in
    contravention with the policy of Indian law”, which means mere
    contravention of law is not enough to make an award vulnerable.
    To bring the contravention within the fold of fundamental policy of
    Indian law, the award must contravene all or any of such
    fundamental principles that provide a basis for administration of
    justice and enforcement of law in this country.

    56. Without intending to exhaustively enumerate instances of such
    contravention, by way of illustration, it could be said that:

    (a) violation of the principles of natural justice;

    (b) disregarding orders of superior courts in India or the binding
    effect of the judgment of a superior court; and

    (c) violating law of India linked to public good or public interest,
    are considered contravention of the fundamental policy of
    Indian law.

    However, while assessing whether there has been a contravention
    of the fundamental policy of Indian law, the extent of judicial
    scrutiny must not exceed the limit as set out in Explanation 2 to
    Section 34(2)(b)(ii).

    *****
    Patent illegality

    65. Sub-section (2-A) of Section 34 of the 1996 Act, which was
    inserted by the 2015 Amendment, provides that an arbitral award
    not arising out of international commercial arbitrations, may also
    be set aside by the Court, if the Court finds that the award is visited
    by patent illegality appearing on the face of the award. The proviso
    to sub-section (2-A) states that an award shall not be set aside
    merely on the ground of an erroneous application of the law or by
    reappreciation of evidence.

    66. In ONGC Ltd. v. Saw Pipes Ltd., (2003) 5 SCC 705, while
    dealing with the phrase “public policy of India” as used in Section
    34
    , this Court took the view that the concept of public policy
    connotes some matter which concerns public good and public
    interest. If the award, on the face of it, patently violates statutory
    provisions, it cannot be said to be in public interest. Thus, an award
    could also be set aside if it is patently illegal. It was, however,
    clarified that illegality must go to the root of the matter and if the
    illegality is of trivial nature, it cannot be held that award is against
    public policy.

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    67. In Associate Builders v. DDA, (2015) 3 SCC 49, this Court
    held that an award would be patently illegal, if it is contrary to:

    (a) substantive provisions of law of India;

    (b) provisions of the 1996 Act; and

    (c) terms of the contract [See also three-Judge Bench decision of
    this Court in State of Chhattisgarh v. SAL Udyog (P) Ltd.,
    (2022) 2 SCC 275].

    The Court clarified that if an award is contrary to the substantive
    provisions of law of India, in effect, it is in contravention of
    Section 28(1)(a) of the 1996 Act. Similarly, violating terms of the
    contract, in effect, is in contravention of Section 28(3) of the 1996
    Act.

    68. In SsangyongEngg. & Construction Co. Ltd. v. NHAI, (2019)
    15 SCC 131 this Court specifically dealt with the 2015
    Amendment which inserted sub-section (2-A) in Section 34 of the
    1996 Act. It was held that “patent illegality appearing on the face
    of the award” refers to such illegality as goes to the root of matter,
    but which does not amount to mere erroneous application of law. It
    was also clarified that what is not subsumed within “the
    fundamental policy of Indian law”, namely, the contravention of a
    statute not linked to “public policy” or “public interest”, cannot be
    brought in by the backdoor when it comes to setting aside an award
    on the ground of patent illegality [ See SsangyongEngg.
    &
    Construction Co. Ltd. v. NHAI, (2019) 15 SCC 131]. Further, it
    was observed, reappreciation of evidence is not permissible under
    this category of challenge to an arbitral award
    [See SsangyongEngg.
    & Construction Co. Ltd. v. NHAI, (2019)
    15 SCC 131].

    Perversity as a ground of challenge

    69. Perversity as a ground for setting aside an arbitral award was
    recognised in ONGC Ltd. v. Western Geco International Ltd.,
    (2014) 9 SCC 263. Therein it was observed that an arbitral
    decision must not be perverse or so irrational that no reasonable
    person would have arrived at the same. It was observed that if an
    award is perverse, it would be against the public policy of India.

    70. In Associate Builders v. DDA, (2015) 3 SCC 49 certain tests
    were laid down to determine whether a decision of an Arbitral
    Tribunal could be considered perverse. In this context, it was
    observed that where:

    (i) a finding is based on no evidence; or

    (ii) an Arbitral Tribunal takes into account something irrelevant to
    the decision which it arrives at; or

    (iii) ignores vital evidence in arriving at its decision, such decision
    would necessarily be perverse.

    However, by way of a note of caution, it was observed that when a
    court applies these tests it does not act as a court of appeal and,
    consequently, errors of fact cannot be corrected. Though, a possible

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    view by the arbitrator on facts has necessarily to pass muster as the
    arbitrator is the ultimate master of the quantity and quality of
    evidence to be relied upon. It was also observed that an award
    based on little evidence or on evidence which does not measure up
    in quality to a trained legal mind would not be held to be invalid on
    that score.

    71. In SsangyongEngg. & Construction Co. Ltd. v. NHAI, (2019)
    15 SCC 131, which dealt with the legal position post the 2015
    Amendment in Section 34 of the 1996 Act, it was observed that a
    decision which is perverse, while no longer being a ground for
    challenge under “public policy of India”, would certainly amount
    to a patent illegality appearing on the face of the award. It was
    pointed out that an award based on no evidence, or which ignores
    vital evidence, would be perverse and thus patently illegal. It was
    also observed that a finding based on documents taken behind the
    back of the parties by the arbitrator would also qualify as a decision
    based on no evidence inasmuch as such decision is not based on
    evidence led by the parties, and therefore, would also have to be
    characterised as perverse [ See SsangyongEngg.
    & Construction
    Co. Ltd. v. NHAI
    , (2019) 15 SCC 131].

    72. The tests laid down in Associate Builders v. DDA, (2015) 3
    SCC 49 to determine perversity were followed in SsangyongEngg.

    & Construction Co. Ltd. v. NHAI, (2019) 15 SCC 131 and later
    approved by a three-Judge Bench of this Court in Patel Engg.
    Ltd. v. North Eastern Electric Power Corpn. Ltd.
    , (2020) 7 SCC

    167.

    73. In a recent three-Judge Bench decision of this Court in DMRC
    Ltd. v. Delhi Airport Metro Express (P) Ltd., (2024) 6 SCC 357,
    the ground of patent illegality/perversity was delineated in the
    following terms: (SCC p. 376, para 39)
    “39. In essence, the ground of patent illegality is available
    for setting aside a domestic award, if the decision of the
    arbitrator is found to be perverse, or so irrational that no
    reasonable person would have arrived at it; or the
    construction of the contract is such that no fair or
    reasonable person would take; or, that the view of the
    arbitrator is not even a possible view. A finding based on
    no evidence at all or an award which ignores vital
    evidence in arriving at its decision would be perverse and
    liable to be set aside under the head of “patent illegality”.
    An award without reasons would suffer from patent
    illegality. The arbitrator commits a patent illegality by
    deciding a matter not within its jurisdiction or violating a
    fundamental principle of natural justice.”

    Scope of interference with an arbitral award

    74. The aforesaid judicial precedents make it clear that while
    exercising power under Section 34 of the 1996 Act the Court does

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    not sit in appeal over the arbitral award. Interference with an
    arbitral award is only on limited grounds as set out in Section 34 of
    the 1996 Act. A possible view by the arbitrator on facts is to be
    respected as the arbitrator is the ultimate master of the quantity and
    quality of evidence to be relied upon. It is only when an arbitral
    award could be categorised as perverse, that on an error of fact an
    arbitral award may be set aside. Further, a mere erroneous
    application of the law or wrong appreciation of evidence by itself is
    not a ground to set aside an award as is clear from the provisions of
    sub-section (2-A) of Section 34 of the 1996 Act.

    75. InDyna Technologies (P) Ltd. v. Crompton Greaves Ltd.,
    (2019) 20 SCC 1, paras 27-43, a three-Judge Bench of this Court
    held that courts need to be cognizant of the fact that arbitral awards
    are not to be interfered with in a casual and cavalier manner, unless
    the court concludes that the perversity of the award goes to the root
    of the matter and there is no possibility of an alternative
    interpretation that may sustain the arbitral award. It was observed
    that jurisdiction under Section 34 cannot be equated with the
    normal appellate jurisdiction. Rather, the approach ought to be to
    respect the finality of the arbitral award as well as party’s autonomy
    to get their dispute adjudicated by an alternative forum as provided
    under the law.

    *****
    Scope of interference with the interpretation/construction of a
    contract accorded in an arbitral award

    84. An Arbitral Tribunal must decide in accordance with the terms
    of the contract. In a case where an Arbitral Tribunal passes an
    award against the terms of the contract, the award would be
    patently illegal. However, an Arbitral Tribunal has jurisdiction to
    interpret a contract having regard to terms and conditions of the
    contract, conduct of the parties including correspondences
    exchanged, circumstances of the case and pleadings of the parties.
    If the conclusion of the arbitrator is based on a possible view of the
    matter, the Court should not interfere [See: SAIL v. Gupta Brother
    Steel Tubes Ltd.
    , (2009) 10 SCC 63; Pure Helium India (P)
    Ltd. v. ONGC, (2003) 8 SCC 593; McDermott International
    Inc. v. Burn Standard Co. Ltd.
    , (2006) 11 SCC 181; MMTC
    Ltd. v. Vedanta Ltd.
    , (2019) 4 SCC 163].
    But where, on a full
    reading of the contract, the view of the Arbitral Tribunal on the
    terms of a contract is not a possible view, the award would be
    considered perverse and as such amenable to interference [South
    East Asia Marine Engg. & Constructions Ltd. v. Oil India Ltd.
    ,
    (2020) 5 SCC 164].

    Whether unexpressed term can be read into a contract as an
    implied condition

    85. Ordinarily, terms of the contract are to be understood in the
    way the parties wanted and intended them to be. In agreements of

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    arbitration, where party autonomy is the grund norm, how the
    parties worked out the agreement, is one of the indicators to
    decipher the intention, apart from the plain or grammatical
    meaning of the expressions used [BALCO v. Kaiser Aluminium
    Technical Services Inc., (2016) 4 SCC 126].

    86. However, reading an unexpressed term in an agreement would
    be justified on the basis that such a term was always and obviously
    intended by the parties thereto. An unexpressed term can be
    implied if, and only if, the court finds that the parties must have
    intended that term to form part of their contract. It is not enough for
    the court to find that such a term would have been adopted by the
    parties as reasonable men if it had been suggested to them. Rather,
    it must have been a term that went without saying, a term necessary
    to give business efficacy to the contract, a term which, although
    tacit, forms part of the contract [Adani Power (Mundra)
    Ltd. v. Gujarat ERC, (2019) 19 SCC 9].

    87. But before an implied condition, not expressly found in the
    contract, is read into a contract, by invoking the business efficacy
    doctrine, it must satisfy the following five conditions:

    (a) it must be reasonable and equitable;

    (b) it must be necessary to give business efficacy to the contract,
    that is, a term will not be implied if the contract is effective
    without it;

    (c) it must be obvious that “it goes without saying”;

    (d) it must be capable of clear expression;

    (e) it must not contradict any terms of the contract [Nabha Power
    Ltd. v. Punjab SPCL, (2018) 11 SCC 508, followed in Adani
    Power case, (2019) 19 SCC 9].

    (emphasis supplied)

    89. A careful reading of the above-stated decision makes it
    abundantly clear that while adjudicating an Objection Petition under
    Section 34 of the Act, an Arbitral Award cannot be interfered with
    mechanically since:

    a. Mere erroneous application of the law is not sufficient;
    b. Re-appreciation of evidence is impermissible; and,
    c. Most importantly, a possible view taken by the arbitral tribunal
    must be respected, even if another view is equally plausible.

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    Findings of the learned Majority Tribunal and their Nature

    90. A perusal of the Impugned Award demonstrates that the learned
    Majority Tribunal has duly considered all relevant material, facts, and
    circumstances while adjudicating upon the claims and counter-claims
    raised by the parties. Upon such examination, the learned Tribunal
    arrived at the following conclusions, which, though not exhaustive,
    reflect the core findings underpinning the Award:

    a. The contract between the parties was in the nature of a
    composite and indivisible agreement with a unified tendered
    value, thereby indicating that the project was intended to be
    executed as a whole and not as independent, severable
    components;

    b. The expression “stipulated period of completion” as employed
    in Clause 10CC of the GCC was to be construed with reference
    to the overall contractual period of 42 months, and not
    component-wise, as sought to be contended by the Petitioner;
    c. The conduct of the parties during the subsistence of the
    contract, particularly the consistent computation and acceptance
    of escalation on the basis of the overall completion period
    without protest for a considerable duration, lends credence to
    the interpretation adopted by the Respondent;
    d. The contractual provisions, when read holistically, do not
    support a fragmented or component-wise application of
    escalation under Clause 10CC.

    91. The aforesaid findings are neither conjectural nor based on
    surmise, but are founded upon a structured appreciation of the
    contractual framework and contemporaneous conduct of the parties.

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    The reasoning reflects a logical progression, wherein each conclusion
    is anchored in either the text of the contract or the surrounding
    circumstances. It is well settled that even if the reasoning of an arbitral
    tribunal is capable of improvement, so long as the ultimate conclusion
    is a plausible one, the award cannot be interfered with. The Court is
    concerned not with the elegance of reasoning, but with the legitimacy
    of the decision-making process.

    Interpretation of Clause 10CC and „Stipulated Period of Completion‟

    92. The dispute between the parties centres around the
    interpretation of Clause 10CC of the General Conditions of Contract,
    particularly the meaning to be ascribed to the expression “stipulated
    period of completion”. The Petitioner has contended that the said
    expression must be understood component-wise, whereas the
    Respondent, whose contention has found favour with the learned
    Majority Tribunal, has asserted that it refers to the overall completion
    period of the project, i.e., 42 months.

    93. A careful reading of the Impugned Award demonstrates that the
    learned Majority Tribunal has not approached the issue in a
    perfunctory or mechanical manner. On the contrary, the learned
    Majority Tribunal has undertaken a comprehensive analysis of the
    contractual framework, including the definition clauses, the nature of
    the contract, the tender documents, and the interrelationship between
    various provisions.

    94. The learned Majority Tribunal has, inter alia, taken note of the
    fact that the contract in question is a lump-sum contract with a unified
    tendered value, and not one which contemplates separate valuation or

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    independent contractual existence of each component. This aspect, in
    the view of the learned Majority Tribunal, was indicative of the
    parties‟ intention to treat the project as a composite whole.

    95. Significantly, the learned Majority Tribunal has also relied upon
    the conduct of the parties during the subsistence of the contract. The
    material on record indicates that, for a substantial period, escalation
    payments under Clause 10CC were computed and accepted on the
    basis of the overall completion period of 42 months, without any
    demur from the Petitioner.

    96. The relevance of the conduct of the parties as an aid to
    contractual interpretation is well recognised. The manner in which
    parties have themselves understood and implemented a contract often
    provides a reliable indicator of their mutual intent. The learned
    Majority Tribunal, therefore, cannot be faulted for placing reliance on
    such conduct.

    97. In fact, the conduct of the parties, as borne out from the record,
    operates as a contemporaneous exposition of the contract itself. For a
    considerable period, both parties proceeded on the basis that
    escalation under Clause 10CC was to be computed with reference to
    the overall completion period. Such a consistent and unambiguous
    course of conduct cannot be brushed aside lightly. It would be
    contrary to settled principles of contractual interpretation to permit a
    party to approbate and reprobate, accepting a particular interpretation
    when it suits its commercial interests and resiling from it when
    circumstances change. The Petitioner, having acquiesced in such
    interpretation for a substantial duration, cannot now be permitted to
    resile therefrom to suit its shifting commercial convenience.

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    98. The contention of the Petitioner that the contract must
    necessarily be interpreted component-wise is, at best, an alternative
    construction. However, it cannot be said that the interpretation
    adopted by the learned Majority Tribunal is one that no reasonable or
    fair-minded person would adopt. The arbitral interpretation, thus,
    clearly falls within the realm of a „possible view‟, thereby placing it
    beyond the permissible scope of interference under Section 34 of the
    Act.

    99. It is also not possible to accept the submission that the
    interpretation adopted by the learned Majority Tribunal renders other
    contractual provisions otiose or redundant. A holistic reading of the
    Award reveals that the learned Majority Tribunal has harmonised the
    various clauses of the contract and has endeavoured to give effect to
    the commercial intent underlying the agreement.

    100. The submission that the interpretation adopted by the learned
    Majority Tribunal renders certain clauses otiose is, upon closer
    scrutiny, more apparent than real. A contract must be read as a whole,
    and not in a manner that places one clause in antagonism with another.
    The learned Majority Tribunal has adopted a harmonious construction,
    ensuring that each provision operates within its designated field
    without encroaching upon the other. The Petitioner‟s interpretation, on
    the other hand, seeks to compartmentalise the contract in a manner
    that fractures its composite character. Such an approach, far from
    preserving contractual efficacy, would introduce artificial distinctions
    not contemplated by the parties.

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    Allegation of Reliance on Unpleaded Grounds

    101. Insofar as the submission of the Petitioner that the learned
    Majority Tribunal has relied upon unpleaded grounds is concerned,
    the material on record, including the rejoinder filed before the learned
    Majority Tribunal, indicates that the issues relating to billing practices
    and the circumstances surrounding the computation of escalation were
    indeed placed before the learned Majority Tribunal. The findings
    recorded by the learned Majority Tribunal, therefore, cannot be said to
    have travelled beyond the pleadings. In any event, the interpretation
    sought to be canvassed is, in any event, based upon the terms of the
    contract itself, which was always available to the learned Arbitral
    Tribunal and which had absolute liberty to interpret the same.

    102. The reliance placed by the Petitioner on SEAMEC Limited
    (supra) is misconceived. The said decision turned on a fundamentally
    different contractual clause and a factual matrix where the arbitral
    interpretation was found to be wholly divorced from the language of
    the contract. The present case stands on an entirely different footing,
    where the interpretation adopted by the learned Majority Tribunal is
    firmly rooted in the contractual scheme.

    103. The said decision cannot be read as laying down an absolute
    proposition that every deviation from a literal interpretation would
    render an award vulnerable under Section 34 of the Act.

    Scope of Judicial Review vis-à-vis Arbitral Interpretation

    104. It is trite that the arbitral tribunal is the chosen forum of the
    parties, and its construction of the contract is entitled to a high degree
    of deference. The moment the Court finds that the interpretation

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    adopted is a “possible view”, the inquiry must end there. The
    temptation to substitute such an interpretation with what the Court
    may perceive to be a “better view” must be resisted, for that would
    strike at the very foundation of arbitral autonomy. The law does not
    countenance a microscopic dissection of the award in search of error;
    it mandates a broad, pragmatic and deferential approach.

    105. Even assuming that the interpretation advanced by the
    Petitioner is a possible one, that by itself would not furnish a ground
    for interference under Section 34 of the Act. The jurisdiction of this
    Court is not to choose between competing interpretations, but to
    ensure that the interpretation adopted does not fall foul of the limited
    grounds of challenge.

    106. The interpretation adopted by the learned Majority Tribunal,
    which treats the “stipulated period of completion” as referable to the
    contract as a whole, ensures uniformity and coherence in the
    application of the escalation formula. This Court finds no perversity in
    such an approach.

    107. Therefore, in the present case, the interpretation adopted by the
    learned Majority Tribunal cannot, by any stretch of imagination, be
    characterised as arbitrary, capricious, irrational, or perverse.

    108. Where the interpretation of a contractual clause by an Arbitral
    Tribunal constitutes a plausible view based on the contractual
    framework and conduct of parties, such interpretation is immune from
    interference under Section 34 of the Act. Even within the expanded
    pre-amendment scope of „public policy of India‟, the Court cannot
    substitute its own interpretation merely because an alternative view is

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    possible. Interference is warranted only where the arbitral view is
    perverse or not even a possible view.

    Whether the Impugned Award suffers from Patent Illegality?

    109. Tested on the aforesaid principles, this Court is unable to hold
    that the interpretation adopted by the learned Majority Tribunal falls
    outside the realm of a possible view. The reasoning of the learned
    Majority Tribunal reflects a coherent and plausible construction of the
    contractual provisions, supported by the nature of the contract as well
    as the conduct of the parties.

    110. Insofar as the plea of “patent illegality” is concerned, even if
    the same is construed within the framework of the pre-amendment
    jurisprudence, the Petitioner has failed to demonstrate that the
    Impugned Award suffers from any illegality which goes to the root of
    the matter.

    111. The findings returned by the learned Majority Tribunal are
    based on a consideration of the contractual provisions, the material on
    record, and the conduct of the parties. The decision-making process
    does not disclose any infirmity of such magnitude as would justify
    interference.

    112. In effect, the challenge mounted by the Petitioner does not
    demonstrate perversity in the Impugned Award, but merely
    dissatisfaction with the interpretation adopted by the learned Majority
    Tribunal.

    113. Viewed holistically, the challenge mounted by the Petitioner is
    nothing but a thinly veiled attempt to re-agitate the merits under the
    guise of a Section 34 Petition. The submissions advanced seek a re-

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    evaluation of the contractual clauses, a re-assessment of the evidence,
    and ultimately, a substitution of the arbitral view with that of this
    Court.

    114. Such an exercise lies clearly outside the permissible contours of
    judicial interference. If such challenges were to be entertained, the
    finality of arbitral awards would be rendered illusory, and the very
    object of the Act would stand defeated. The arbitral process having
    been consciously chosen by the parties, the finality attached to an
    arbitral award cannot be lightly displaced.

    115. Therefore, interference in such circumstances would amount to
    substituting the arbitral conscience with judicial preference, an
    exercise impermissible in law.

    CONCLUSION:

    116. In view of the foregoing discussions, this Court is of the
    considered view that the Impugned Award does not suffer from
    perversity, violation of the fundamental policy of Indian law, or suffer
    from patently illegality.

    117. The challenge mounted by the Petitioner is thus devoid of merit
    and does not warrant interference. Accordingly, the present petition is
    dismissed and thereby Impugned Award, dated 12.12.2013, is upheld.

    118. The present Petition, along with pending Application(s), if any,
    are disposed of in the aforementioned terms.

    119. There shall be no order as to costs.

    HARISH VAIDYANATHAN SHANKAR, J.

    APRIL 21, 2026/ DJ

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