JUDGMENT

R.M. LODHA, J.

Leave granted.

2. The question for consideration in this appeal by special leave is whether appeal award no. 3782 and appeal award no. 3783 both dated 21.09.1998 passed by the Board of Appeal of the Grain and Feed Trade Association, London (for short, “Board of Appeal”) in favour of the respondent are enforceable under Section 48 of the Arbitration and Conciliation Act, 1996 (for short, “1996 Act”)?

3. By a contract dated 12.05.1994 between Shiv Nath Rai Harnarain (India) Company, New Delhi (sellers) and Italgrani Spa, Naples, Italy (buyers) a transaction relating to 20,000 MT (+/- 5%) of Durum wheat, Indian Origin (for short, “goods”) for a price at US$ 162 Per MT was concluded. Some of the salient terms of the contract are as follows:

“Commodity Durum Wheat Indian Origine new crop

Test Weight 80 KG/HL.MIN

Moisture 12 PCT.MAX

Vitrious 80 PCT. MIN

Broken 3 PCT. MAX

Proteine 12 PCT. MIN

Foreign Matter 2 PCT MAX

Sprouted/Spotted 1 PCT. MAX

Soft Wheat 1.5 PCT. MAX

Quantity 20,000 MT With 5%+/- Sellers

Option in 1 single shipment

Shipment 1-30/June 1994

Quantity final at loading

Quality, Conditions All final at time and place of loading As per first class Intl Company Cert.

“S.G.S