NIRMALA DEVI JINDAL Vs. USHA GOEL

JUDGEMENT

(1.) The appellant has filed the present appeal under Sec. 37 of the Arbitration and Conciliation Act, 1976 (hereafter 'the A&C Act') impugning a judgment dtd. 9/6/2022 (hereafter 'the impugned judgment') whereby the appellant's application under Sec. 34 of the A&C Act was rejected.

(2.) The appellant is essentially aggrieved by an Arbitral Award dtd. 14/3/2020 (hereafter 'the impugned award') whereby the Arbitral Tribunal had awarded an amount of ?22,87,317/- in favour of respondent no.1 (claimant before the Arbitral Tribunal) along with interest, at the rate of 8% per annum from the date of award till the date of the payment.

(3.) Respondent no. 1 (proprietor of V.D. Industries) claimed that she is engaged in the business of manufacturing PVC compound granules since 1996 and is registered under the Micro, Small and Medium Enterprises Development Act, 2006 (hereafter 'the MSMED Act'). She claimed that during the period December 2017 to June 2018, she had supplied goods to M/s Govind Cable Industries (hereafter 'the Firm'), of an aggregate value of ?26,77,420/-. The said amount remained outstanding and the Firm and its partners had failed and neglected to pay the said amount. The disputes between the parties were, referred by the MSME Council under Sec. 18 of the MSMED Act for arbitration under the aegis of Delhi International Arbitration Centre (DIAC).