JUDGMENT :

V. Kameswar Rao, J.

This petition has been filed by the decree holders under Section 36 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the ‘Act of 1996’) seeking enforcement of a consent award dated March 01, 2019 by the Arbitral Tribunal, in arbitration bearing Singapore International Arbitration Centre (‘SIAC’, for short) Arbitration No. 093/2017.

2. At the outset, I may narrate a brief factual background of the instant case, as borne out from the petition. Petitioner No. 1 is VPS Healthcare Pvt. Ltd., a part of VPS Healthcare Group and petitioner No. 2 is Medeor Hospitals Pvt. Ltd. (formerly Rockland Hospitals Ltd.), a company wholly owned by petitioner No. 1. The judgment debtors/respondent Nos. 1 and 2 are Mr. Prabhat Kumar Srivastava and Mr. Rishi Kumar Srivastava respectively, who are the erstwhile promoters and shareholders of petitioner No. 2.

3. On August 11, 2015, an agreement was entered into between the erstwhile Rockland Hospitals Limited (‘RHL’, for short) and Ernst and Young India LLP (‘EY’, for short), through a Letter of Engagement (‘LOE’, for short), since RHL had chosen EY to provide professional services with regard to the prop