DCM DECOMETAL GMBH Vs. ROHIT FERRO TECH LIMITED

JUDGEMENT

(1.) The appellant/petitioner filed the instant appeal assailing the order dated 23.07.2014 passed by the Hon'ble Single Judge in A.P. No.194 of 2011.

(2.) The facts of the case is that the appellant/petitioner is an Austrian Company having its place of business in Austria. The respondent/claimant is an Indian Company having its registered office at 35, Chittaranjan Avenue, Kolkata. The appellant/petitioner and the respondent/claimant entered into a contract dated 4th September, 2008 whereby the respondent/claimant agreed to sell and the appellant/petitioner agreed to buy 4000 MT more or less 10 % at the claimant's/respondent's option high carbon silico manganese. The agreed price was US$ 2060 per M.T., FOB Haldia, Kolkata. The said contract contained an arbitration clause in Serial No.15 which is quoted below:-

(3.) The appellant/petitioner alleged that by its letter dated 16th October, 2008 the respondent repudiated the contract. The appellant/petitioner then informed the claimant/respondent not to produce any more goods and thereby treating the contract as terminated upon expiry of September, 2008 or latest by 16th October, 2008.