SARA INTERNATIONAL LIMITED Vs. RIZHAO STEEL HOLDING

JUDGEMENT

(1.) Plaintiff has filed the present suit for recovery of US$ 2,72,110.91 along with pendente lite and future interest at the rate of 6% per annum from the date of filing of the present suit till its realization along with costs.

(2.) The facts of the present case are that the defendant placed a purchase order on the plaintiff for supply of 41,000 Wet Metric Tonne (WMT) processed Indian Iron Ore Fines (goods) produced from mines in India with minimal 61% Iron (Fe) content. For this purpose, the parties entered into a formal contract dated 28th January, 2008. The iron ore was sent vide two shipments. The present dispute pertains to the second and final shipment of 6000 WMT of iron ore fines.

(3.) In accordance with the formal contract dated 28th January, 2008, Assayers of the plaintiff and defendant conducted tests at loading port and certified presence of Iron (Fe) content to be above 61% in the goods.