DIMECO THROUGH ITS INDIAN AGENT KRITI INTER TRADE Vs. CENTRAL ORGANISATION FOR MODERNIZATION OF WORKSHOPS THROUGH CONTROLLER OF STORES

JUDGEMENT

(1.) The petitioner has filed the present petition under Sec. 9 of the Arbitration and Conciliation Act, 1996 (hereafter "the A&C Act"), inter alia, praying as under: -

(2.) Respondent no.1 (hereafter "COFMOW") had invited a Global Bid Invitation Notice to tender for the supply of "Cut to Length Line machine on turnkey basis" (hereafter "the CTL Machine"). The said Notice Inviting Tender was published on 30.04.2010. On 01.07.2010, the petitioner (a French company) submitted its bids through its Indian agent. The bids were opened on 02.07.2010 and the petitioner was found to be the Lowest Bidder (L-1). It is stated that between September, 2010 to August, 2011, COFMOW sought certain clarifications and the same were provided. Thereafter, on 02.09.2011, COFMOW issued a Letter of Acceptance. Thereafter, on 13.10.2011, the parties entered into a contract (hereafter "the Contract"), whereby the petitioner agreed to supply the CTL Machine. The petitioner claims that on 20.07.2012, the Deputy Railway Advisor, Embassy of India, Paris inspected the CTL Machine and certified that the same conformed to the contractual specifications.

(3.) On 02.08.2012, the petitioner raised a commercial invoice for EUR 1,575,901.50 (for supply on FOB basis). It received 80% of the said invoice payment being EUR 1,260,721.20 on 30.08.2012 but, has not received the balance payment as yet.