HELIGO CHARTERS PRIVATE LIMITED Vs. AIRCON FEIBARS FZE

JUDGEMENT

(1.) This appeal is directed against an order passed by the learned Single Judge of this Court on 28th April, 2017 in Comm Arbitration Petition (l) No. 208/2017. The respondent herein Aircon Beibars FZE (original petitioner) holds a foreign award passed on 25th January, 2017 for an amount of approximately US$7 million equivalent to Rs. 46 Crores against the appellant herein Heligo Charters Pvt. Ltd. The award was made pursuant to reference of disputes under the Arbitration Clause contained in Clause 7 of the Settlement Deed dated 9th September, 2014. The Award was passed in Singapore.

(2.) The original respondent appellant herein did not challenge the Award in the Singapore Court. It has thus become final. It is the contention of the respondent herein that the appellant has failed to pay awarded amount of US$ 7 million/Rs.46 Crores.

(3.) The Respondent herein had filed Arbitration Petition No.269/2017 wherein it was pointed out that only significant asset that the appellant/Heligo has in India, is a helicopter which it uses for ONGC operations. The respondent expressed apprehension that appellant might move the helicopter from the jurisdiction of the Court or might encumber or alienate the same to prevent the same from being proceeded against in enforcement of the said Award. Therefore, the petitioner had sought relief under section 9 of the Arbitration Act, 1996 (as amended by Amendment Act of 2015) to restrain the respondent from alienating, encumbering, or parting with possession of the Helicopter and from removing it from the jurisdiction of the Court, pending enforcement of the Foreign Award under Part II of the Arbitration Act.