BANWARI LAL Vs. PUNJAB STATE COOP SUPPLY MKTD

JUDGEMENT

(1.) In these proceedings, the correctness of an award dated 27.1.2004 by a sole Arbitrator, appointed to decide the inter se disputes between the parties in the proceedings being suit No.1392-A/81 under Section 20 of the Arbitration Act, 1940, have been challenged.

(2.) The petitioner ' M/s. Punjab State Co-operative Supply and Marketing Federation Ltd., have challenged the award under Section 30 and 33 of Arbitration Act, 1940.

(3.) The petitioner - M/s. Punjab State Co-operative Supply and Marketing Federation Ltd. (hereafter referred to as 'the Federation') entered into a contract on 29.6.1981 with the State Trading Corporation of India Ltd. (STC) for supply of 4000 metric tonnes of superior Sela Basmati Rice for export to Daman in Saudi Arabia. The arrangement was a back to back contract between STC and M/s.Suleman Al-Mohd., Al Rashid of Saudi Arabia. Pursuant to the contract, the Federation entered into another contract with the respondent on 16.7.1981 by which the latter was to supply 2000 metric tonnes of the said products.