FOCUS ENERGY LIMITED Vs. REEBOK INTERNATIONAL LIMITED

JUDGEMENT

(1.) The present petitions under Section 34 of the Arbitration and Conciliation Act, 1996 ("the Act") challenge the partial and final awards dated 4th November, 2010 and 24th May, 2011, respectively, delivered by the London Court of International Arbitration (LCIA).

(2.) The Petitioner and the Respondent had entered into a Joint Venture Agreement (hereinafter, 'JVA') dated 1st March, 1995 to establish a company in India by the name 'Reebok India Company'. According to the Respondent, a written request was sent by it to the Petitioner, seeking to purchase shares of Reebok India as per Section 4 of the Agreement. Since the Petitioner did not agree to the said sale of shares, the Respondent invoked arbitration in terms of Section 4 and Section 11 of the JVA.

(3.) The invocation took place on 17th March, 2008. The parties nominated their respective arbitrators and the LCIA appointed the chairman. i.e. the presiding arbitrator. It was further agreed by the parties that the time limits for issuance of the award, as set out in Section 11(B), were waived and the Rules of LCIA would apply instead.