C A RAMESH BABU Vs. REEBOK INDIA COMPANY

JUDGEMENT

(1.) The petitioner has filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereafter "the Act"), inter alia, impugning the arbitral award dated 31.12.2017 (hereafter "the impugned award") delivered by the Arbitral Tribunal constituted of a sole arbitrator, Justice V.B Gupta (Retired), (hereafter "the Arbitral Tribunal").

(2.) The impugned award was rendered in the context of disputes that have arisen between the parties in respect of the "Franchise Agreement" dated 17.08.2006 (hereafter "the Agreement") and the "Settlement Agreement" dated 27.02013 (hereafter "the Settlement Agreement").

(3.) The disputes between the parties relate to the price payable by the petitioner for the goods supplied by the respondent (Reebok). Reebok claimed that certain amounts were due to it under the Franchise Agreement and in order to settle the same, the parties had entered into the Settlement Agreement, in terms of which the parties had agreed that an amount of Rs. 1,18,73,851/- was payable by the petitioner to Reebok .