DESHMUKH D.K., J.: - This petition has been filed seeking enforcement of Foreign Award dated 1-2-2000 and 22-10-2001, under section 47 read with section 48 of the Arbitration and Conciliation Act, 1996 hereinafter referred to as "the Act". The facts that are material and relevant for deciding this petition are as under:-

The petitioner is a Company incorporated under the Laws of Italy. It is involved in the business of setting-up and construction of plants for production of Synthetic fibers, Polymers and ascorbic acid. The respondent is a Public Limited Company incorporated under the Companies Act. The respondent in the year 1994 entered into negotiations with a Company called "Enco Engineering Chur AG of Sagenstrasse 97, 7001 Chur, Switzerland. On 30.1.1995 the respondent entered into four related agreements with Enco for setting up ascorbic acid Acid plant in India. The four agreements are as under:-

(i) Engineering Contract for Ascorbic Acid Plant (ECAAP);

(ii) Supply contract for Ascorbic Acid plant (SCAAP);

(iii) Service agreement for Ascorbic Acid plant (SAAAP); and

(iv) License agreement for Ascorbic acid plant (LAAAP) .

Under the ECAAP, Enco was obliged to provide the respondent

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