(1.) The present Petition filed under Sec. 34 of the Arbitration and Conciliation Act, 1996 is at the instance of the original Claimant being partly aggrieved by the impugned Award to the extent that the Claims 15(2) to 15(8) have been held to be barred by Clauses 10 (a) and (b) of Techno Commercial Agreement dtd. 10/9/2014 and capped by the Arbitrator to the extent of the amount of the Bank Guarantee which is invoked and encashed by the Claimant.
(2.) The arbitration agreement was invoked by the Claimant seeking resolution of disputes which arose between the parties under an Agreement of 10/9/2013 executed between the Claimant and the Respondent for the purchase and installation of fishmeal plant.
(3.) The Petition sets out that by purchase order of 11/9/2013 read with Techno Commercial Agreement dtd. 10/9/2013, the Claimant had purchased fishmeal plant from the Respondent, which the Respondent was required to supply, erect and commission. Despite various attempts, the plant could not be commissioned solely due to the faulty design and equipment supplied by the Respondent and the Claimant called upon the Respondent to take back the plant. As there was no refund of the price of the plant as initially claimed by the Claimant, arbitration was invoked. In the Sec. 11 application, the learned Sole Arbitrator came to be appointed by this Court.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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