CHEMIPEX Vs. SHLOK CHEMICALS

JUDGEMENT

(1.) ADMIT . With the consent of the learned counsel, the Appeal is taken up for hearing and final disposal.

(2.) THE Appeal arises from a judgment of a Learned Single Judge dated 9 April 2012 on a petition under Section 34 of the Arbitration and Conciliation Act 1996. The Appellant, who is the Original Petitioner, challenged an arbitral award dated 1 July 2011 of an Arbitral Tribunal constituted by the Chemical and Alkali Merchants' Association. The challenge to the arbitral award has failed. Hence, the Petitioner before the Learned Single Judge in the Arbitration Petition under Section 34 of the Arbitration and Conciliation Act 1996 is in appeal.

(3.) THE challenge to the arbitral award was rejected by the Learned Single Judge on the ground that the Arbitral Tribunal consisted of merchants who are aware of the general practice of the trade and who came to the conclusion that the deviation was minor. The Learned Single Judge held that the view taken by the Arbitral Tribunal was based on a general practice followed in the market and being a possible view of the facts was certainly not a perverse view. Having regard to the limited scope of a challenge under Section 34 of the Arbitration Act, the Learned Single Judge declined to entertain the petition.