TORQ COMMODITIES LLC Vs. NAVA INVESTMENT PTE LTD

JUDGEMENT

(1.) The petitioner which is a U.A.E. Based Company and engaged in the business of trading of coal, has filed the present petition under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Arbitration Act' for short) requesting this Court to invoke its powers under Section 9 of the Arbitration Act as interim measures since the petitioner is contemplating appointment of the Arbitrator/s in view of Clause 15 of an Agreement entered into between the petitioner and the respondent on 1.8.2018 since the disputes have arisen on the ground of breach of terms and conditions of the said Contract.

(2.) The petitioner has calculated the losses suffered due to breach of the above contract to the tune of US $ 1,663,587.50. In the present petition, following prayers have been made by the petitioner:-

(3.) The petition was listed for hearing for the first time on 28.12.2018 before the coordinate Bench of this Court and following order was passed:-