- (1.) This is an application under Section 11 (5) of the Arbitration and Conciliation Act, 1996 and relates to a dispute under an agreement between a foreign company and an Indian company. The application is filed by the foreign company against the Indian company seeking reference of the disputes to an arbitrator. The learned Chief Justice of India has nominated me to deal with the application.
(2.) The claim of the petitioner is that the respondent company is liable to pay the petitioner a sum of Rs. 96,21,137. 00 with interest at 24% with quarterly rests w. e. f. 1/5/1999 besides other amounts.
(3.) The facts set out in the petition by the petitioner as follows: The petitioner company has its Principal place of business at Kaulalumpur, Malaysia. It has an office at New Delhi and it is carrying on business of air-transportation, operation of air flights in and from India under a bilateral agreement between Malaysia and India. It is stated that its Senior Vice President, South Asian Region, Mr. Noor Amiruddin holds a general power of attorney to act for and on behalf of the petitioner and that the said person is the Principal Officer of the petitioner company in India. Original power of attorney dated 15/12/1997 has been produced and by order dated 3/11/2000, it was impounded for collection of stamp duty and penalty and, after overruling objections by an order dated 21/11/2000, the original power of attorney was treated as evidence under Section 42 (1) of the Indian Stamp Act. It is the case of the petitioner that the respondent has been appointed as General Sales Agent (passenger) for various countries and that under agreements dated 15/9/1986 and 11/1/1989, the respondent has been so appointed, the former agreement relating to passengers and the latter relating to cargo. The agreements were to be performed in India and the cause of action arose in India. The originals of the agreements are with the respondent. It is stated that the aforesaid agreements could be terminated by either side by giving to the other, written notice 60 days in advance as per Article 3 of the agreements. It is stated that the petitioner established its office for North India w. e. f. 1.5.99.;