HINDUSTHAN PETROLEUM CORPORATION LTD. Vs. ISGES

JUDGEMENT

(1.) THIS appeal arises from a decision of a learned Single Judge dated 4 April 2012 on a petition under Section 34 of the Arbitration and Conciliation Act, 1996. The learned Single Judge has declined to set aside an arbitral Award of a Sole Arbitrator dated 4 November 2009.

(2.) THE Appellant floated a global tender for six Reactors with S.S. Clading for a Green Fuels Project. The first Respondent submitted a bid. A Purchase Order was placed by the Appellant upon the first Respondent on 1 June 2005. The Purchase Order provided that the contract value would be Rs.14,50,10,000/ -. The contract envisaged that the price which was mentioned in the Purchase Order would be firm; the relevant condition being as follows: -

(3.) THE learned Single Judge has dismissed the petition filed by the Appellant under Section 34 for setting aside the Award.