MICOPERI S.P.A. Vs. SANSOUCI PVT. LTD.

JUDGEMENT

(1.) It is not in dispute in these proceedings that a formal agreement was entered into by and between the Miscoperi S. P. A., the petitioner, a company incorporated in Italy and Sansouci Private Ltd., the respondent, an Indian Company, on the 7th July, 1980, whereby the petitioner appointed the respondent as its representative and consultant for the following works:-

(2.) It was further agreed that during the currency of the agreement the respondent would represent the petitioner and exclusively act in the sole interest of the petitioner exercising reasonable skill, care and diligence in discharge of its duties under the agreement.

(3.) It was agreed that the petitioner would pay to the respondent a fee being 4% of all payments excluding those for cost of reimbursable items actually received by the petitioner under any contract for installation of S. I. and S. E. platform, pipelines and raisers and between 5% and 6% in respect of any other contract which may be entered into between the petitioner and the said statutory Corporations payable pro rata on payments actually received from the said Corporations within 15 working days from the date of receipt of such payments.