ZION SHIPPING LTD. Vs. SARALA FOODS PVT. LTD.

JUDGEMENT

(1.) The present appeal is filed under Sec. 37 of the Arbitration and Conciliation Act, 1996, by the appellant Zion Shipping Ltd., being aggrieved by the Order dtd. 13/10/2025 passed by the learned Single Judge of this Court in ICOMAOA No.5 of 2024.

(2.) The backdrop of the case is that initially, the appellant Company, by invoking Sec. 9 of the Arbitration & Conciliation Act (in short 'Act'), filed ICOMAOA No.5 of 2024, before the learned Single Judge, seeking the following main relief:-

(3.) At the time of admission, the learned Single Judge on 23/4/2024 passed the ex parte conditional order of attachment of stock in trade of 1600 MTs of rice, subject to furnishing of security of USD 29,296,326.74 within 24 hours. The 1st respondent Company complied with the said conditional order dtd. 23/4/2024, by depositing the security amount on 24/4/2024 before the Registrar (Judicial) of this Court.