BESTIME TRADING CO PRIVATE LIMITED Vs. ALCHMIST LIMITED

JUDGEMENT

(1.) The above petitions arise out of disputes that have arisen between the parties in relation to the 'National C&F Agreement' dated 9th July, 2015/ 11th June, 2015 (hereinafter referred to as the 'Agreement'). In terms of the said Agreement, the petitioner (Bestime Trading Co. Private Limited) was appointed as an agent for the purpose of stocking and forwarding the pharmaceutical products of the Respondent (Alchemist Limited). The Agreement was for a period of two years commencing from 11th June, 2015 and terminating by efflux of time on 10th June, 2017.

(2.) As per the terms of the said Agreement, the petitioner had deposited with the respondent a sum of Rs. 2.50 crores as and by way of security deposit. The deposit was to earn interest as provided in Clause 6(ii) and 14 (a) and 14 (c) of the Agreement.

(3.) Clause 14 (c), further required the respondent to refund the said security deposit upon termination of the Agreement within a period of 90 days from the expiration or sooner determination of the same.