JUDGMENT

R. D. Dhanuka, J. - By this appeal filed under section 37 of the Arbitration and Conciliation Act, 1996, the appellant (original respondent before the learned Single Judge and the original claimant before the Arbitral Tribunal) has impugned the judgment delivered by the learned Single Judge of this Court allowing the arbitration petition filed by the respondent herein (original petitioner) under section 34 of the Arbitration and Conciliation Act, 1996 (for short the Arbitration Act). Some of the relevant facts for the purpose of deciding this petition are as under :-

2. The parties in this order are described as per their original status in the arbitral proceedings. The appellant herein was the original claimant whereas the respondent herein was the original respondent. The claimant is a citizen of Singapore and resides in Singapore. It was the case of the claimant that the claimant had identified and brought together (i) Mr.Raman Maroo, (ii) Mr.Jayesh Parekh and (iii) and the respondent and offered them an investment opportunity in the said joint venture company known as Ace TV Private Limited. The claimant and the respondent were friends at that time.

3. The claimant thereafter founded Sony Entertainment Television Private Limited (now known as Multi Screen Media Private Limited) along with the world renowned Sony Pictures Entertainment, USA a part of the Sony Group of Japan. The said Sony Entertainment Television Private Limited was created as joint venture company between companies owned by the claimant and the companies owned by the Sony Pictures.

4. It is the case of the claimant that the claimant together with Mr.Raman Maroo negotiated and procured favourable telecasting rights and built a 500 movies library which was then taken as part of the capital contribution to the said joint venture company. The claimant held shares of Multi Screen Media Private Limited through holding companies viz. Atlas Equifin Private Limited, India and Grandway Global Holdings Limited, Mauritius. The claimant was the first chief of television programming of the Sony TV Venture.

5. It was the case of the claimant that in the month of May 2012, the said shareholders whom the claimant brought together had sold their shares equivalent to 32% of Multi Screen Media Private Limited to the Sony Group companies at a valuation of approximately USD 840 million. The claimant had invested and was involved with several industries. According to the claimant, the value of his reputation was worth Rs.282.60 crores on the basis of his achievement relating to the Sony TC Venture alone and was worth Rs.314 crores if his other achievements were considered.

6. As per the claimant, the bare minimum value of the said reputation of the claimant was admitted by the respondent as USD 3.5 million or Indian Rupee 18 crores 78 lakhs. The claimant is a shareholder of Atlas Equifin Private Limited. The respondent was also a shareholder of the said company and holding 1,40,000 equity shares in the said company. The said company is an investment holding company and owns assets including shares of Multi Screen Media Private Limited which shares had recently been sold subject to the government approvals.

7. It was the case of the claimant that Mrs.Ayesha Shroff who is the wife and representative/agent of the respondent had acted as authorized representative of the respondent and had represented the respondent in various dealings with the claimant as well as in various dealings with the company. The respondent had been trying to sell his shares in the said company since the year 2002 by various modes. A placement instruction dated 15th November, 2005 was signed by the claimant and the respondent and other parties, authorizing the Standard Chartered Bank as their agent to identify a purchaser to purchase the shares of the said company.

8. It is the case of the claimant that the respondent thereafter disputed his signature on the Placement Instruction and lodged a false and base