Should a party, whose favorable arbitration award has been set aside by the Madras High Court, file caveat petitions in both the High Court and the Supreme Court to protect their interests?

You can try contacting India Homes directly and requesting the voucher. If they fail to provide a satisfactory response or the voucher itself, you can explore legal options by filing a consumer complaint with the Maharashtra Consumer Disputes Redressal Commission. You can also seek legal advice from a lawyer specializing in consumer protection laws.