VIJAY GALANI PROPRIETOR Vs. NOBLE FILMS DISTRIBUTORS

JUDGEMENT

(1.) The petitioner has challenged the award dated 7th November, 2006 whereby the Arbitral Tribunal based on the mutual agreement which was culminated into the letter of arrangement dated 13. 11. 2004, passed the following award: 1. That the letter of arrangement/agreement dated 26. 10. 2002 and the subsequent letter of mutual settlement dt. 13. 11. 2004 entered into between the complainant and the respondent is valid subsisting and binding onthe parties. 2. That the respondent Producers, M/s. Film folks, Mumbai, are liable to refund to the complainant distributors M/s. Noble Film distributors, Mumbai, in terms of the said agreement the balance unrecouped advance of Rs. 50,00,000/- along with interest@ 12% calculated from 31. 3. 2006 till the date of final payment. 3. That the respondent Producers M/s. Film folks, Mumbai, shall pay the Complainant distributors M/s. Noble Film Distributors, mumbai, the sum of Rs. 50,00,000/- as balance of refundable advance along with interest @ 12% per annum calculated from 31. 3. 2006 till the date of final payment and complaint registration fee of Rs. 500/- within 15 days from the date of intimation.

(2.) Respondent No. 1 is a firm carrying on the business of film distribution within the territory of Bombay. The petitioner is carrying on the business in film production as a sole proprietor in the firm name and style of "film Folks". The petitioner had agreed to assign the distribution rights in respect of the Hindi feature film titled "film Folks Production No. 4", i. e. BARDAASHT, on the terms and conditions dated 10. 1. 2001 on the M. G. basis. It was agreed that all the disputes and differences arising between the parties and as per the practice prevailing in the film trade as respondent No. 1 being distributor was registered member with the Distributors association-respondent No. 5 agreed to settle the same through the Committee/arbitral Tribunal.

(3.) The parties arrived at a new arrangement in writing again on 26. 10. 2002 for the said film for distribution and exhibition as set out in letter dated 26. 10. 2002.