PUEBLO HOLDINGS LIMITED Vs. EMIRATES TRADING AGENCY LLC

JUDGEMENT

(1.) This Execution Petition is instituted by Pueblo Holdings Limited, a company incorporated under the laws of Marshall Islands, under Order XXI, Rule 46 of the Code of Civil Procedure (in short, "CPC") seeking to attach and sell the debts and shares mentioned in the schedule appended to the petition for executing the foreign awards dated 09.04.2017 and 06.08.2017.

(2.) In other words, by virtue of this petition, the petitioner prayed that the judgment and order of this Court dated 02.11.2018 in O.P.No.416 of 2018, wherein and whereby, this Court held that the foreign awards dated 09.04.2017 and 06.08.2017 passed by a Sole Arbitrator stationed at London on the petition filed by the petitioner herein are enforceable against the assets of Emirates Trading Agency LLC, Dubai, United Arab Emirates/the first respondent herein, under Part II, Chapter 1 of the Arbitration and Conciliation Act , 1996 ("A & C Act", for the sake of brevity), as the same deemed to be the decrees of this Court pursuant to Section 49 of the A & C Act, be executed under Order XXI, Rule 46 of the CPC.

(3.) The petitioner submitted that it is a wholly owned subsidiary of Navios Maritime Holdings Inc, which specializes in worldwide carriage, trading, storage and related logistics of international bulk cargoes and got listed on the New York Stock Exchange. According to the petitioner, it is one of the leading shipping groups worldwide. The petitioner appointed a Sole Arbitrator on 23.09.2019 in terms of Clause 17 of the charterparty dated 09.04.2008 and filed a claim petition before him on 21.12.2016 with respect to the said charter- party and a Suspension Agreement dated 30.10.2012, being the owners of the vessel "Navios Lumen", seeking certain amounts which the first respondent herein owed as charterers, by way of debt and/or damages, with interest. The first respondent chosen not to appear before the sole Arbitrator, and thus, the Arbitrator passed the Partial Final Award on 09.04.2017 and the Second Partial Final Award on 06.08.2017.