DEVI RESOURCES LIMITED Vs. AMBO EXPORTS LIMITED

JUDGEMENT

(1.) The principal matter in issue in this appeal is how an injunction in personam restraining a person from proceeding with a foreign arbitral reference would impact the application for implementation of the foreign award when such award has been rendered at a time that the injunction was in subsistence, but the injunction has subsequently been vacated.

(2.) The appellant here is a company incorporated and organised under the appropriate laws of Hong Kong and having its principal place of business in Hong Kong. The respondent is a Kolkata-based company.

(3.) On February 29, 2012, the parties entered into an agreement under which the appellant agreed to buy iron ore fines of indicated specifications from the respondent herein. Clause 14 of the agreement recognised the contract to be governed by English law and any dispute arising out of such agreement to be referred to arbitration in London in accordance with the English statute and the arbitration to be conducted by the London Maritime Arbitrators' Association (LMAA). There may or may not have been subsequent addenda to the original agreement, but nothing turns on such dispute between the parties. The facts narrated are as they appear from the pleadings and the disagreements between the parties on minor matters may not have any bearing in the context of the larger legal issue that has arisen.