FALCON PROGRESS LTD. Vs. SARA INTERNATIONAL LTD.

JUDGEMENT

(1.) The above captioned petition has been filed by Falcon Progress Limited (hereafter 'FPL'), a company registered under the laws of Hong Kong, for enforcement of the foreign award dated 22.11.2012 as corrected by the award dated 21.12.2012 (hereafter 'the impugned award'). The impugned award was rendered by the sole arbitrator pursuant to arbitration proceedings conducted under the rules of Singapore International Arbitration Centre (SIAC) in respect of disputes between FPL and Sara International Ltd. (hereafter 'Sara'), the Judgment Debtor.

(2.) Sara has filed the present application under Section 48 of the Arbitration and Conciliation Act, 1996 (hereafter 'the Act') inter alia praying that enforcement of the impugned award be declined.

(3.) In the present application, Sara has pleaded that the recognition and enforcement of the impugned award be declined on several grounds; but, Mr. Sethi, learned senior counsel appearing for Sara has broadly canvassed only two reasons in support of the relief sought.