DR. INDERJIT SINGH MANN Vs. CHARANJIT SINGH GREWAL

JUDGEMENT

(1.) BY this order I shall dispose of OMP No. 120/2004 which has been filed under Section(s) 34 and 37 of the Arbitration and Conciliation Act, 1996 against the impugned award dated August 31, 2003 passed by the learned sole arbitrator Justice S. Ranganathan (Retd.).

(2.) THE brief facts of the case are that the parties had entered into a Memorandum of Understanding and agreement dated April 9, 1997 as regards the sale of shares of M/s Trilaium Technologies Ltd. The two relevant clauses of this agreement are Clauses 6 and 7 which are reproduced as under:

(3.) THE claim of the applicant before the arbitrator was as under: