RICHMOND MERCANTILE LIMITED Vs. VINERGY INTERNATIONAL PRIVATE LIMITED
LAWS(BOM)-2016-7-2
HIGH COURT OF BOMBAY
Decided on July 01,2016

Richmond Mercantile Limited Appellant
VERSUS
Vinergy International Private Limited Respondents

JUDGEMENT

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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