BHARAT M NAGORI Vs. SATISH ASHOK SABNIS

JUDGEMENT

(1.) BY the present petition the petitioner impugns the Award dated 10/10/2001 whereby the claim of the petitioner has been rejected. The learned Arbitral Tribunal found that there are no written directions issued by the petitioner, but went on to observe as under:

(2.) THE learned Arbitral Tribunal thereafter on the oral evidence of one Mr. Agarwal rejected the case of the petitioner. The case examined by the learned arbitrator was of friendship between one Jagmohansingh Gujral and the petitioner herein. It was the case of the respondent that the petitioner had done transactions on behalf of Gujral. Gujral became liable for the amounts and the petitioner instructed the respondent to adjust the amount payable to him towards the dues of Mr. Gujral. The learned Tribunal found that the case of the respondent was acceptable and consequently rejected the claim of the petitioner. It is in that context that the challenges as made by the petitioner will have to be examined. The petitioner in the statement of claim filed on 28/03/2001 pleaded that in respect of his account maintained by the petitioner with the respondent there was a balance amount of Rs. 3,47,272. 15 paise with further interest computed thereon as per trade practice. Thus upto 5/03/2001 the total amount which was due and payable was Rs. 4,62,585. 53. Inspite of the grievance raised by him before the grievance cell the amount was not paid he sought reference.

(3.) IN reply the respondent on 27/04/2001 did not deny that the respondent owed moneys to the petitioner, but the defence as raised may be adverted to from paragraphs 4 and 5, which read as follow: