IMPEX TRADING GMBH Vs. ANUNAY FAB LTD
HIGH COURT OF DELHI
IMPEX TRADING GMBH
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(1.) THIS is a petition under Section 9 of the Arbitration and Conciliation act, 1996 (hereinafter referred to as 'act') filed by the petitioner against the respondents seeking interim relief for restraining the respondent No. 1 from encashing/invoking Letter of Credit No. DIA101180 for 321346. 14 Euro (Rs. l,89,72,276. 11p in Indian currency) or in the alternative some interim measure or relief be provided to the petitioner to secure the amount of 1,83,754. 91 (Rs. l,08,48,889. 89p in Indian currency) till the dispute in the proposed arbitration between the petitioner and the respondent No. 1 is adjudicated upon by the arbitral tribunal.
(2.) PETITIONER company entered into three separate agreements with the respondent for supply of manufactured goods/items to the petitioner. These agreements are:
(1) Consignment Contract No. PJN 1192/07 dated February 22, 2007 for supply/export of Fitted Bed Sheet, solid color, knitted 100% polyester micro fiber, single jersey 135-140 gsm with rubber band stitched inside around the whole sheet size 100 X 200+27 cms edges around with machine washable 60 decrees of the value of 74648. 88 Euro. (2) Consignment Contract No. PJN 1194/07 dated February 22, 2007 for supply/export of roman Shade, printed 100% Polyester micro fiber 110 gsm, size 100 x 170 cms with wooden bar on top, with 2 metal ears, with metal weight bar on bottom including fixtures (2 hooks, 2 dowels, 2 screws) with colour matching draw rope of the value of 1,12,797. 60 euro. (3) Consignment Contract No. PJN 1198/07 for supply/export of children bed set, 2 pieces set, printed 100% polyester micro fiber 110 gsm, duvet covers and pillow case with color matching YKK-zipper with white plastic head, with machine washable 60 decrees of the value of 1,33,860 euro.
(3.) AS per the agreements, respondent No. 1 was required to provide oekotex standard 100 certificate free of charge. On the request of the petitioner, respondent No. 3, the bankers of the petitioner at Germany, opened an irrevocable Letter of Credit (hereinafter referred to as 'l/c')bearing No. DIA101180 dated 17. 7. 2007 for 3,24,716. 64 Euro with date and place of expiry being September 03, 2007 and D-Bielefeld in favour of respondent No. 1.;
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