SRF LIMITED Vs. JONSON RUBBER INDUSTRIES LIMITED

JUDGEMENT

(1.) This hearing has been done through hybrid mode.

(2.) The present petition has been filed by the Petitioner- SRF Ltd. under Sec. 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter, '1996 Act') seeking appointment of a sole arbitrator to adjudicate upon its disputes with the Respondent- M/s Jonson Rubber Industries Ltd. Recourse to arbitration in the present petition has been taken, pursuant to clause 22 of the terms and conditions specified in the invoices stemming out of purchase orders dtd. 26/12/2019 and 27/12/2019.

(3.) It is the case of the Petitioner, that the Respondent had approached it to purchase 'Belting Fabric Material' and placed purchase orders for the same on 26/12/2019 and 27/12/2019. The Petitioner claims that he sold the said material through seven separate invoices in February, 2020 and the collective amount due from the said invoices is Rs.50,71,455.26. The Petitioner also claims an additional amount of Rs.86,428.00 on account of accrued interest and GST liabilities. Further, with respect to the said outstanding bills, the Petitioner issued a legal demand notice on 15/6/2022. Subsequently, the Petitioner invoked arbitration clause under Sec. 21 of the 1996 Act on 2/5/2023, in terms of clause 22 of the terms and conditions stipulated in the invoices.