RICHMOND MERCANTILE LIMITED Vs. VINERGY INTERNATIONAL PRIVATE LIMITED
HIGH COURT OF BOMBAY
Richmond Mercantile Limited
Vinergy International Private Limited
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R.D.DHANUKA, J. -
(1.) By this petition filed under sections 46 and 47 of the Arbitration and Conciliation Act, 1996 (for short 'the Arbitration Act"), the petitioner seeks a declaration that the arbitral award dated 25 th
September, 2014 passed by the arbitral tribunal is enforceable as a decree of this Court
and be executed accordingly. The petitioner also seeks various interim reliefs in this arbitration
petition. Some of the relevant facts for the purpose of deciding this arbitration petition are as under
(2.) The petitioner company is incorporated in Sharjah and carries on its business of trading in bulk bitumen. The respondent company is incorporated under the provisions of the Companies Act, 1956.
(3.) On 15th August, 2008, the petitioner and the respondent entered into a master supply agreement (hereinafter referred to as the "said agreement") in writing for supply of bulk bitumen for
extendable term from 25th June, 2008. Under clause 19 of the said agreement, it was provided that
the said agreement would be governed by and construed according to English Law and any dispute
arising out of the said agreement shall be referred to arbitration in London in accordance with the
LMAA Rules of Arbitration and subject to the Arbitration Act, 1996 or any statutory modification or
re - enactment thereof for the time being in force. Under clause 19.2 of the said agreement, the
application of Part I of the Indian Arbitration and Conciliation Act, 1996 was specifically excluded.;
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