- (1.) This appeal is directed against an order dated 13th May 2010, whereby His Lordship was pleased to hold that Section 42 of the Arbi-tration & Conciliation Act, 1996, (hereinaf-ter referred to as the said 'Act') would not apply to either Section 11 or Section 8 con-tained in Part 1 of the said Act.
(2.) The facts of the case briefly are as follows : The appellant entered into a contract with the respondent whereby the respondent sold to the Claimant 500 MT of Cold Rolled Gal-vanized Plain Sheets @ USD 1085.00 per MT on the terms and conditions contained in the said agreement. The material was to be shifted latest of 28th February 2007. The claimant was required to open a confirmed irrevocable Letter of Credit towards price of 250 MT and the balance 250 MT was to sup-ply by the respondent against 10% advance and 90% against documents. The appellant/ plaintiff opened the Letter of Credit and paid the advance to the respondent on 23rd Feb-ruary 2007. The respondent in spite of re-peated requests failed, neglected and avoided to shift the material as per the contractual terms as prices of the material had gone up considerably. During this period the import licence obtained by the appellant got expired.
(3.) The dispute was cropped up between the parties and the dispute was referred to Indian Council of Arbitration (ICA), New Delhi in terms of the Arbitration clause con-tained in the said agreement. It further ap-pears that the appointment was made by the Hon'ble High Court at Delhi when the Delhi High Court was pleased to appoint Mr. Jus-tice Aloke Chakravorty (Retd.) as Sole Ar-bitrator in the matter to adjudicate upon the disputes between the parties. The learned Ar-bitrator duly published his award on 19th January, 2010. The award was served upon the appellant on the same date and thereafter an Execution Petition has been filed before the High Court at Delhi by the appellant and an interim order was also passed by the Hon'ble Delhi High Court on 30th April 2010.;