M/S. SHRUTI ORE CARRIERS Vs. M/S. SYNERGY TRADE EXCHANGE, A PROPRIETORSHIP CONCERN OF MR. ROHAN LOBO, HAVING OFFICE AT, A
HIGH COURT OF BOMBAY
M/S. Shruti Ore Carriers
M/S. Synergy Trade Exchange, A Proprietorship Concern Of Mr. Rohan Lobo, Having Office At, A
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C. V. Bhadang, J. -
(1.) Rule, made returnable forthwith. The learned Counsel for the respondent waives service. Heard finally by consent of the parties.
(2.) The petitioners, who are the plaintiffs in Special Civil Suit No.4/2016/A on the file of the learned Senior Civil Judge at Vasco, are challenging the order dated 12/08/2016, by which, application (Exh.9-D) under Section 8 of the Arbitration and Conciliation Act, 1996 (the Act, for short), filed by the respondent/ defendant, has been allowed and consequently, the suit has been dismissed.
(3.) The brief facts are that the petitioners have filed the aforesaid suit for mandatory injunction, directing the respondent not to interfere with the barge (M.V. Shruti) and the proprietorship rights of the petitioners and further restraining them or anybody on their behalf, from interfering with the said barge belonging to petitioner no.2. It appears that the respondent filed an application under Section 8 of the Act, seeking referral of the dispute to arbitration, in terms of clause 4 of the agreement dated 07/02/2015. The arbitration clause relied upon by the respondent, reads as under :
"Clause 4- Arbitration dispute of any during the Agreement period shall be settled amicably. In the event both the parties cannot reach any amicable decision, buyers decision will be binding and final on both the parties. ";
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