NINE RIVERS CAPITAL LIMITED Vs. GOKUL PATNAIK

JUDGEMENT

(1.) This is a petition filed under Ss. 44, 47 and 49 of the Arbitration and Conciliation Act, 1996 (for brevity "the Act") and Order XXI read with Sec. 151 of the Code of Civil Procedure, 1908 (for brevity "the Code") seeking enforcement and execution of the final arbitration award dtd. 24/6/2019 made by learned arbitral tribunal in Singapore International Arbitration Centre (for brevity "SIAC") in Arbitration No. 133 of 2017 under the Arbitration Rules of the SIAC (6th Edition, 1/8/2016).

(2.) The brief facts of the case are that the petitioner/judgment holder, Nine Rivers Capital (a Mauritius-incorporated company) entered into a Share Subscription and Shareholders Agreement (for brevity "SSSA") on 4/3/2010 regarding an investment of Rs.300.00 million, with respondent No.1/judgment debtor No.1 - Gokul Patnaik (an Indian citizen), respondent No.2/judgment debtor No.2 - Katra Finance Ltd. (a Mauritius company) and a promoter group, to invest in Global Agrisystem Pvt. Ltd. (an Indian company) (for brevity "GAPL").

(3.) The SSSA outlined the terms under which the petitioner, referred to as the "Investor", would subscribe to the following securities in GAPL: