M/S PANDI DEVI OIL PRIVATE LIMITED Vs. SHAKTI INTERNATIONAL PVT LTD
HIGH COURT OF BOMBAY
M/S Pandi Devi Oil Private Limited
Shakti International Pvt Ltd
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NARESH H.PATIL,J. -
(1.) Admit. Heard finally by consent of parties.
(2.) The appellant herein - M/s. Pandi Devi Oil Private Limited filed a petition under Section 34 of the Arbitration and Conciliation Act,
1996 (for short the Act of 1996), challenging an award dated 18/3/2015 passed in terms of consent terms signed between the parties to the
arbitration. The consent terms were executed by and between the parties
on 18/3/2015. The Board of Directors resolved on 16/3/2015 to execute,
sign and file consent terms and place the same before the Arbitrator and
seek an award in terms of the consent terms. The consent terms are placed
before us, annexed at Annexure "A". The appellant is a private limited
company incorporated under the provisions of the Companies Act, 1956
and carried on business of importing Palm Oil. The respondent - company
is also incorporated under the provisions of the Companies Act, 1956,
engaged in the business of importing Edible Oil and other allied business.
(3.) The appellant herein submitted that the appellant need not go into the facts of the case as the challenge in the appeal is confined to
consent terms filed before the Arbitrator. In other words, the appellant did
not raise any challenge on the merits of the case. The appellant raised
questions of law as under :-
(A) Where in the facts and circumstances of the case in law, can the Appellant withdraw the Consent Terms filed before the Learned Arbitrator at any time.
(B) Whether in the facts and circumstances of the case, is it correct for the Arbitrator to terminate the Arbitral proceedings when admittedly so, the Arbitral Award was not delivered to the Appellate under Section 31(5) of the Arbitration and Conciliation Act, 1996 (herein after called the Said Act).
(C) Whether in the facts and circumstances of the case, is it correct in law for the Learned Arbitrator to declare as Functus Officio after terminating the Arbitral Proceedings. ;
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