SEOK-AM TECH COMPANY ALSO KNOWN AS SATCO vs TEMA INDIA LIMITED

Judgment text excerpt

CARBAL18048_2024.DOC Digitally signed by PRAJAKTA PRAJAKTA SAGAR SAGAR VARTAK VARTAK Date: 2025.06.06 17:27:20 +0530 Vidya Amin IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION APPEAL (L) NO. 18048 OF 2024 IN COMMERCIAL ARBITRATION PETITION NO. 342 OF 2020 Seok-Am-Tech Co. Ltd. (SATCO) a company registered under the laws of Korea and having registered office at Jinyang Building, 3F, #552-1, Dogok-Dong, Gangnam-Gu, Seoul, Korea … Appellant Versus Tema India Private Ltd. having its registered address at Hamilton House, 3rd floor, J.N. Heredia Marg, Ballard Estate, Mumbai – 400 038. … Respondent ___________________ Mr. Firoz Bharucha a/w. Mr. Ziyad Madon, Mr. Mahek Kamdar, Mr. Hersh Choksi, Mr. Prathamesh Jadhav, Ms. Deshna Gala i/b. Kanga & Co. for the appellant. Mr. Darius Khambata, Senior Advocate a/w. Mr. Karl Shroff, Ms. K.R. Daviervala, Mr. Yazdi P. Jijina & Ms. Farzeen Harver i/b. Mulla & Mulla & Craigie Blunt & Caroe for the respondent. _______________________ CORAM: G. S. KULKARNI & ADVAIT M. SETHNA, JJ. RESERVED ON : 8 January, 2025 Pronounced on: 6 June, 2025 _______________________ Page 1 of 74 CARBAL18048_2024.DOC Judgment: (Per G.S. Kulkarni, J.) 1. The judgment has been divided into the following sections to facilitate analysis:- SECTIONS HEADING PARA NOS. A Prelude 2 to 3 B Facts 4 to 35 C Submissions on behalf of the Appellant 36 D Submissions on behalf of the Respondents. 37 to 40 E Analysis and Conclusion 41 to 89 A. Prelude : 2. This appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (for short “ACA”) is directed against the judgment and order dated 10 April, 2024 rendered by the learned Single Judge of this Court in Commercial Arbitration Petition No. 342 of 2020. By the impugned o