Judgment

BHARUCHA, J.:- Leave granted.

2. Heard

3. These appeals raise an interesting question relating to the Foreign Awards (Recognition and Enforcement) Act 1981 (now referred to as the said Act),

4. The appeals concern what was an ocean going vessel originally called Leda Maersk and thereafter Saudi Cloud. The appellant, M/s. Brace Transport Corporation of Monrovia a Corporation incorporated under the laws of Liberia was the owner of the said vessel. It agreed to sell the same in an amended Norwegian sale form dated 24th February, 1981 to the second respondent. M/s. Orri Navigation Lines, Saudi Arabia, Jeddah. or its nominee for the sum of (sic) 15,50,000. Clause 15 of the sale form provided that disputes arising thereunder would be referred to arbitration in England. The nominee of the second respondent who purchased the said vessel was the first respondent, Orient Middle East Lines Ltd., Saudi Arabia, Jeddah. Disputes having arisen they were referred to arbitration. The Arbitrators appointed by the parties made an award on 25th August, 1983, holding that:

(a) the Claimants succeed in their claim for the balance of the purchase price in the sum of US $ 155000;

(b) the claimants succ