J K INDUSTRIES LIMITED Vs. D S STRATEGEM TRADE A G
HIGH COURT OF DELHI
D.S.STRATEGEM TRADE A.G.
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(1.) THIS Petition has been filed under Section 34 of Arbitration and Conciliation Act, 1996 challenging the award dated 24th September, 2004 passed by a Tribunal of Arbitrators.
(2.) THERE was an agreement for supply of 5,00,000 metric tonnes of Romanian origin Urea for fertilization, between the Petitioner and the Respondent. Article 10. 1 of the agreement provided that parties shall amicably settle the dis-agreement or dispute which may arise between them. In any case that the dispute cannot be settled amicably then it shall be submitted to the International Chamber of Commerce in Geneva (Switzerland ). Article 10. 2 provided that parties have agreed to voluntarily execute the award of Arbitration and in case of default, the award could be enforced through the competent courts of law of Geneva (Switzerland ).
(3.) AFTER the dispute arose between the parties the respondent referred the matter to the International Chamber of Commerce in Geneva. The Secretariat of International Chamber of Commerce informed the petitioner about the request of the respondent and also asked the petitioner to appoint one Arbitrator. Vide its letter dated 10th October, 1991, Petitioner appointed Mr. B. Sen as Co-Arbitrator. During pendency of Arbitration proceedings in 1994 petitioner filed a suit before this Court seeking declaration that agreement dated 7th January, 1991 entered between the parties was not a concluded contract. In this suit an application for interim relief was filed and this Court vide order dated 13th March, 1995 directed that further proceedings before the Arbitrator shall remain stayed. However, this Civil Suit was later on withdrawn by the petitioner. The Arbitrators were informed by the petitioner regarding interim stay granted by this Court. Vide a letter dated 14th March, 1995 International Chamber of Commerce Secretariat transmitted to the parties that the Arbitral Tribunal had decided to proceed with the hearing notwithstanding the stay granted by this Court. The Tribunal concluded its hearings and passed an award which is the subject matter of challenge in this petition.;
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