TUF METALLURGICAL PRIVATE LIMITED Vs. BST HK LIMITED

JUDGEMENT

(1.) The present appeal is filed under Sec. 37 of Arbitration and Conciliation Act, 1996 questioning the order dtd. 12/9/2024 passed by the learned single Judge of this Court in I.A.No.2 of 2024 in ICOMAOA.14 of 2024.

(2.) Facts of the case: The brief facts leading to this case are as under:

(3.) As per Clause 4.1 of the Contract, the base price of the Cargo was USD 96.00 per DMT CFR FO on the premise that the cargo of iron ore has 56% 'Fe' content. As per Clause 5, if the 'Fe' content of the Cargo was below 54.00%, the 1st Respondent had a right to renegotiate the price.