ETHIX ALLOY Vs. HLL LIFECARE LIMITED

JUDGEMENT

(1.) The above appeal is filed under Sec. 13(1) of the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 (hereinafter referred to as the 'Commercial Courts Act') read with Sec. 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Arbitration Act'), challenging the judgment dtd. 29/1/2021 passed in Com.A.S.No.81/2013 by the LXXXII Addl.City Civil and Sessions Judge at Bengaluru (CCH.83) (hereinafter referred to as the 'Commercial Court'), whereunder the petition filed U/s 34 of the Arbitration Act has been partly allowed and a portion of the Award dtd. 19/6/2013 passed by the Arbitral Tribunal has been set aside.

(2.) Brief facts relevant for consideration of the present appeal are that, the Appellant and the Respondent entered into a Sale and Purchase Contract dtd. 31/3/2010 for purchase of Iron Ore Fines on FOB basis, whereunder the Appellant agreed to sell to the Respondent, Iron Ore Fines of 40000 Metric Tonnes ('Mts' for short) from Goa Port, India, with the port of discharge being One Main Port, China. The content of the Iron Ore Fines was required to be of a minimum of 55% FE content/grade and the Respondent appointed one M/s Inspectorate Griffith India Private Ltd., ('Inspectorate Griffith' for short) to carryout the grade analysis of the Iron Ore Fines. The Appellant was required to load the goods at the rate of 7000 Mts., on board the vessel per weather working day and the last date of shipment of the goods was 25/4/2010. The Respondent was required to open an irrevocable letter of credit for 100% of value of the Contract.

(3.) Learned Counsel for the Appellant assailing the judgment passed by the Commercial Court contended that: