P B JAGTYANI AND CO Vs. GAURAV AGENCIES

JUDGEMENT

(1.) This order shall dispose of objections under Section 34 of the Arbitration and Conciliation Act, 1996 by the petitioners against the award dated 15th February, 2000 given by Mr.Pramod Maheswari, Arbitrator, Delhi Hindustani Mercantile Association (Registered), Chandni Chowk, Delhi in Arbitration Proceeding No.152/98-99.

(2.) Brief facts to comprehend the objections raised by the petitioners are that the petitioners contended that they had been purchasing poplin cloth from the wholesale supplier, M/s. Gaurav Agency, sole proprietorship firm of M/s.Arvind Kumar Modi and Sons (HUF). The accounts for the purchases which were made on 16th July, 1997 and 5th August, 1997 were settled between the parties on 8th September, 1997. For these purchases, the petitioners had placed orders in writing which were accepted by the respondent No.1 and thereafter the goods were supplied and the bills were raised. The petitioner contended that the accounts in relations to these transactions were settled on 8th September, 1997.

(3.) The petitioner asserted that thereafter they again entered into an arrangement/transaction with respondent No.1 for supply of 70000 meters of 50's poplin cloth. Before entering into a contract for the supply, the parties had discussion in relation to terms and conditions and on the basis of the terms and conditions agreed between the parties, an order/confirmation dated 19th September, 1997 was issued by the respondent No.1. It was averred that it was agreed that the substantial order will be supplied by 30th October, 1997 and the balance by 15th November, 1997. Payments were to be made by giving 20 days post-dated cheques against delivery.