VIPIN SANGHI, J. E.A. No.705/2009

1. This execution petition has been preferred under section 49 of the Arbitration and Conciliation Act, 1996 (the „Act?) to seek the enforcement of a foreign award dated 27.3.2008 in case no. 14582/JHN between the parties.

Decree Holder’s case:

2. The decree holder is a company based in Arizona, USA while the judgment debtor is an Indian company at New Delhi. On 1.1.2003 decree holder entered into a Trade Mark License Agreement (TLA) with the defendant, whereunder the decree holder had granted the judgment debtor license to use the trademark “Penn” for use in certain territories for certain products. In consideration of the said license, the judgment debtor agreed to pay annual royalty to the decree holder. This agreement was effective initially from 1.1.2003 to 31.12.2005. A second TLA was executed for the period 1.1.2006 to 31.12.2009, on similar terms and conditions.

3. Clause 18 of the said TLAs contained an arbitration clause for settlement of any dispute with regard to construction, meaning and effect of provisions of the agreement by arbitration of the International Chamber of Commerce (ICC), Paris. Clause 17 of the said TLAs provided