KGF COTTONS PVT LTD vs HALDIRAM SNACKS PVT LTD

Judgment text excerpt

$~70 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 08th JANUARY, 2025 IN THE MATTER OF: + O.M.P. (COMM) 426/2023, I.A. 19992/2023, I.A. 19993/2023, I.A. 19994/2023 KGF COTTONS PVT LTD .....Petitioner Through: Mr. Dhruv Gupta, Liza Arora Anubhav Garg, Advocates versus HALDIRAM SNACKS PVT LTD .....Respondent Through: Mr. Varun Goswami, Ms. Arpita Mishra, Advocates CORAM: HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD JUDGMENT (ORAL) 1. The instant petition under Section 34 of the Arbitration & Conciliation Act, 1996 has been filed challenging an Award dated 31.03.2024 by which the Ld. Sole Arbitrator has allowed the claim of the Respondent herein and has dismissed the counter claim of the Petitioner herein. 2. Shorn of unnecessary details, the facts which are relevant for the purpose of this challenge as mentioned in the Award, are as under- i. The Respondent herein is a company incorporated under the Companies Act. The Petitioner herein used to place orders on one M/s Coral Products Pvt. Ltd. (CPPL) for importing crude Palm oil Signature Not Verified Digitally Signed O.M.P. (COMM) 426/2023 Page 1 of 6 By:SHAZAAD ZAKIR Signing Date:20.01.2025 11:50:23 (edible grain) from foreign suppliers, for delivery at Kakkinada Port, Andhra Pradesh (now Telangana). ii. The goods so imported pursuant to the orders placed by the Petitioner herein were sold to the Petitioner herein on the High Seas through various High Seas Sales Agreements dated 07.01.2011. iii. CPPL was later amalgamated with the Respondent herein under scheme of amalgamation, approved by this Court vide Order dated 25.04.2014. iv. The Respondent herein, in the Arbitration proceedings stated that after giving credit to all the payments made by the Petitioner herein, there was an outstanding amount of Rs, 2,09,18,