On issues No.10 and 11 the learned Arbitrator rejected the plea of the petitioner that there was any negligence or misconduct on the part of the respondent. Accordingly, issue No.12 was also decided against the petitioner. Regarding issue No.13 where the petitioner sought refund of Rs.24,46,51,891/- paid to Government of India for Joint Operations as being part of the consortium on the ground that the respondent committed breach, the plea was rejected noting that there was no communication from the Government terminating the contract on account of any default or gross negligence on the part of the Operator. The termination took place on account of completion of Phase-I inasmuch as under the PSC Agreement if no commercial discovery was made in the contract area by the end of the exploration period, the contract was to be terminated. On issue No.14 regarding the claim of the petitioner for loss of profit the same was rejected. On issues No.2, 3 and 4 noting that the share of the petitioner is not in dispute being 11.11%, there was no dispute raised regarding the quantum of expenditure and the resultant share of the petitioner. Accordingly, an Award was passed in favour of the respondent for a sum of Rs.2,66,66,574/- plus interest of Rs.14,09,054/-. LIBOR rate plus 2% interest on the amount of Rs.2,80,75,628/- from January 2016 till passing of the Award was also passed. If the amount was not paid within 30 days the petitioner was also liable to pay interest from the date of the Award till realisation of the Award. Costs were also awarded to the respondent.
