ANGLO-AMERICAN METALLURGICAL COAL PTY. LTD vs MMTC LTD

Judgment text excerpt

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment pronounced on: 09.05.2025 + OMP (ENF.) (COMM.) 19/2018 &E.X.APPL.(OS) 1806/2024 ANGLO-AMERICAN METALLURGICAL COAL PVT. LTD. ………Decree Holder Through: Mr. Jayant K Mehta, Sr. Adv. with Mr. Sumeet Kachwaha, Mr. Samar Kachwaha, Ms. Ankit K, Ms. Akanksha Mohan and Ms. Ananya Saluja, Advs. versus MMTC LTD …….....Judgment Debtor Through: Mr Chetan Sharma, Ld. ASG with Mr Sanat Kumar, Sr. Adv. with Mr. Akhil Sachar, Ms. Sunanda Tulsyan, Mr R.V. Prabhat, Mr. Amit Gupta, Ms. Kashish Maheshwari, Ms. Shweta Pattnaik, Mr. Vinay Yadav, Mr. Saurabh Tripathi, Mr. Vikramaditya Singh and Mr. Shubham Sharma, Advs. CORAM: HON'BLE MR. JUSTICE JASMEET SINGH JUDGMENT : JASMEET SINGH, J 1. Even though the judgment in the main enforcement petition was reserved on 28.10.2024, however, in view of the application being Digitally Signed By:DEEPANSHU MALASI OMP (ENF.) (COMM.) 19/2018 Page 1 of 44 Signing Date:09.05.2025 14:23:08 E.X.APPL.(OS) 1806/2024 filed thereafter, the judgement was not pronounced till the conclusion of hearing in the said application. Hearing in the said application concluded on 07.05.2025. 2. This is a petition filed under section 36 of Arbitration and Conciliation Act, 1996 (“1996 Act”) seeking enforcement of Award dated 12th May, 2014 passed by the learned Arbitral Tribunal (“AT”) by a majority of 2:1 regarding the disputes between the parties herein. FACTUAL BACKGROUND 3. On 07.03.2007, the decree holder and the judgment debtor entered into a Long Term Agreement (“LTA”) for the sale and purchase of coking coal from decree holder on FOB (trimmed) basis from DBCT Gladstone in Australia. Under the LTA, the decree holder was the Seller and the judgment debtor was the Purchaser of a quantity of coking coal. 4. The LTA enco