In Y D Transport Company & Anr. v. SREI Equipment Finance Ltd., the Calcutta High Court set aside an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996, holding it null and void due to improper constitution of the tribunal. The Court clarified that the limitation period for filing a Section 34 challenge begins from the actual receipt of the signed award, not its date of issuance, and the petition filed was within time. Addressing jurisdiction, the Court held that Section 42 does not bar the seat court from entertaining a Section 34 application even if execution under Section 36 is pending elsewhere. Crucially, the tribunal was unilaterally appointed by the respondent, violating Section 12(5) read with the Seventh Schedule and principles of impartiality and equality under Section 18. No express written waiver existed, and mere participation could not cure the defect. Following precedents like Perkins Eastman, the Court ruled the award was contrary to public policy and tainted by bias, and allowed the Section 34 petition, setting aside the award.