SIEL LTD Vs. PRIME INDUSTRIES LTD

JUDGEMENT

(1.) THIS common order would dispose of two petitions under Section 34 of the Arbitration and Conciliation Act, 1996 (hereafter called the Act) preferred by M/s. SIEL Ltd. and Anr. (hereafter referred to as SIEL or as the petitioner) being OMP No. 419/2005 and M/s. Prime Industries Ltd. (hereafter referred to as "the claimant or Prime Industries" as the case may be) being OMP 468/2006.

(2.) THE brief facts necessary to decide the case are that SIEL entered into an agreement (referred to as "the MoU") on 10.6.1994. It is not disputed that the SIEL is a manufacturer of Vanaspati and Vegetable oil and markets its products in various brands such as Rath, Panghat, Roshni and Palki for Vanaspati and Vegetable oil.

(3.) THE MoU contained an arbitration clause in the following terms :