JUDGMENT :

R.F. Nariman, J.

1. These appeals raise interesting questions relatable to Part II of the Arbitration and Conciliation Act, 1996 [the “Arbitration Act, 1996”] which provisions deal inter alia with recognition and enforcement of foreign awards. The facts necessary to appreciate the points raised in these appeals are as follows.

2. On 18th September, 2000, a representation agreement was entered into between Integrated Sales Services Ltd. [“ISS” / Respondent No. 1], a company based in Hong Kong and DMC Management Consultants Ltd. [“DMC”], a company registered in India, whose principal business address is at Nagpur. By this agreement, ISS was to assist DMC to sell its goods and services to prospective customers, and in consideration thereof was to receive commission. The relevant clauses of the agreement are clauses 2 and 3 which read as follows : -

“2. Duties of Representative

Representative shall assist Company with its efforts to sell its Goods and Services to prospective customers. Secondly, where acceptable to the Company, identify potential sources of investment and Investors, and assist Company in negotiating the terms of purchase, sale and/or investment.

3. Validity

The rig