(1.) Interpretation of certain provisions of the Arbitration Act, 1940 and the Arbitration and Conciliation Act, 1996 (for short '1940 Act' and '1996 Act' respectively) is in question in these appeals which arise out of a judgment and order dated 13-10-1998 passed by a learned single judge of the Delhi High Court in O.M.P. No. 94 of 1998 and a judgment dated 17-2-2003 passed by a five-judge Bench of the said Court in L.P.A. No. 492 of 2002 holding that the said appeal was not maintainable.
(2.) The parties hereto entered into an agreement on or about 7-4-1992 in terms whereof the first respondent herein was to manufacture and pack in its factory a wide range of ice cream for and on behalf of the appellant. The said agreement was to remain valid for a period of five years. Admittedly, the said contract contained an arbitration agreement being clause 20 thereof which is as under :
(3.) The contention of the appellant was that the first respondent herein did not fulfil its contractual obligations. It was also contended and two Demand Drafts sent by it for a sum of Rs. Five lakhs each which were required to be sent in the year 1992 were in fact sent on 7-5-1995 and the same were returned.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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