CHAMARIA FASHIONS PVT. LTD. Vs. ANIKET BASANT AGRAWAL

JUDGEMENT

(1.) ADMIT. Learned advocate Ms. Natasha Sutaria waives service of notice of admission for and on behalf of respondents.

(2.) By way of present appeal under Sec. 37 of the Arbitration and Conciliation Act, 1996, appellants have challenged legality and validity of judgment and order dtd. 20/1/2023 passed by learned District and Sessions Judge, Nadiad in Commercial Civil Misc. Application No.2 of 2022 by virtue of which, award passed by learned Arbitral Tribunal dtd. 15/10/2022 was refused to be set aside and consequentially prayed to set aside said award as well.

(3.) The factual background which has given rise to present appeal is that appellant No.1 is a private limited company incorporated under the provisions of the Companies Act, 1956 and basically dealing with business of trading and export of cotton, suiting and fabrics. Whereas, appellant No.2 is also a private limited company, having authorized share capital of Rs.6.00crore paid up capital of Rs.5,91,90,900.00, whereas respondents are individually engaged in the business of manufacturing and trading of textile garments.