HALDIRAM SNACKS PVT. LTD. Vs. MEGHA ENTERPRISES

JUDGEMENT

(1.) By the present petition filed under section 11(6) of the Arbitration and Conciliation Act, 1996 the petitioner seeks appointment of a Sole Arbitrator to enter upon reference and adjudicate upon the disputes said to have arisen between the parties.

(2.) Learned senior counsel for the petitioner submits that the respondent No.1 is a partnership firm of which respondents No.2 to 4 are the partners. Pursuant to an order said to have been received by the erstwhile M/s.Coral Products Private Limited (predecessor of the petitioner company) the petitioners imported Crude Palm Oil from foreign suppliers situated at Indonesia and Malaysia. The said goods were sold on credit to respondent No.1 on High Seas through High Sea Sale Agreements dated 002013 and 25.02013. Appropriate sale invoices are said to have been raised on the respondent No.1 and the delivery of the goods was to be taken by the respondents at Kakinada Port, Andhra Pradesh. The petitioner claims that an amount of Rs. 19.03 crores became due and payable by the respondents to the petitioner. Reliance is placed on a communication dated 31.5.2013 issued by respondent No.1 to the said M/s.Coral Products Private Limited the predecessor of the petitioner where an acknowledgement is said to have been made of balance due of Rs. 19.03 crores.

(3.) The Agreement dated 2.2.2013 and 25.02.2013 have an Arbitration Clause which reads as follows:-