AJANTA TRANSISTOR CLOCK MANUFACTURING CO. Vs. AJANTA LIMITED

JUDGEMENT

(1.) The petitioners have filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1997 (hereinafter referred to as the 'Act') for setting aside the arbitral award dated 19th January, 2016 passed by learned Sole Arbitrator Justice R. C. Lahoti (former Chief Justice of India).

(2.) When the matter was listed before the Court on 2nd May, 2016, on limited point the arguments were addressed by the petitioners' counsel.

(3.) The said arguments were refuted by Mr.Dushyant Dave, learned Senior counsel appearing on behalf of respondents, who argued that none of the grounds is available to the petitioners to challenge the award in which each and every aspect of the matter has been discussed. There is no scope of interference within the scheme of Section 34 of the Act. Since the award passed is detailed one, therefore, the order was reserved.