(1.) Challenging the termination of the dealership by the respondent the applicant herein, their dealer has moved these two applications under Section 9 of the Arbitration and Conciliation Act, 1996, seeking the following reliefs:
(2.) The applicant has been a dealer of automobiles since the year 1938. Considering their experience and expertise, the respondent had approached them with a request to take up their dealership at Kolkata. The respondent wanted to gain a foothold at Kolkata. During the negotiations there was a tacit understanding that considering the huge investment that the applicant was making into the dealership, the dealership would be for a long period of 30 years and that the termination would not be at will but on the breach of any of the obligation under the contract.
(3.) Pursuant to this negotiation, the Letter of Intent dated 12.11.2010 was issued by the respondent for a non-exclusive dealership of the Hyundai passenger cars and also for the after sales services. According to the applicant, the tenure under the LOI was indefinite and this fact is confirmed by the LOI not containing any clause for termination at will nor for the execution of an agreement as a pre-condition to commence business.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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