GIMPEX LTD. Vs. AANCHAL CEMENT LIMITED

JUDGEMENT

(1.) These Petitions have been filed under Section 11 (5) of the Arbitration and Conciliation Act, 1996, (hereinafter referred to as 'The Act') to appoint an Arbitrator to decide the disputes and differences between the petitioner and the respondent arising out of three High Seas Sale Agreements, dated 17.04.2012, 27.04.2012 and 27.04.2012.

(2.) The facts in all these petitions are identical and the nature of transaction said to have taken place under the three agreements are identical and the relevant facts necessary to consider the reliefs sought for are set down here under.

(3.) The learned counsel appearing for the petitioner after referring to the above factual position submitted that the agreement between the parties is governed by the three High Seas Sale agreements among other things, the agreement provides that the dispute, if any between the parties arising to or relating to the agreement of High Seas Sales shall be referred under the Arbitration Act, 1940 and the award of the Arbitrators or the umpire as the case may be, shall be final and binding on both the parties are here and it will be subject to the Madras Court jurisdiction only. Therefore, it is submitted that the dispute between the parties has to be resolved by arbitration.