MEDIMA LLC Vs. BALASORE ALLOYS LTD.

JUDGEMENT

(1.) This is an application under Sec. 9 of the Arbitration and Conciliation Act, 1996 ('the Act').

(2.) The application has been necessitated in view of an award dtd. 29/03/2021 passed by an ICC, London Arbitral Tribunal ('the award'). By the award, the petitioner has been awarded a sum of USD 30, 35, 249.87 (USD 3.03 million) with interest @ 5% per annum (equivalent to approximately Rs.22 crores on the basis of the exchange rate as on 29/03/2021) payable by the respondent. The award further directs the respondent to pay the said sum within a period of 30 days i.e. by the end of April, 2021. The respondent has not paid the said sum nor any portion thereof. It is also an admitted position that the respondent has not challenged the award under Sec. 17 of the UK Arbitration Act, 1996.

(3.) In this application, the petitioner seeks the following reliefs: