1. This Original Petition is filed under Section 34 of the Arbitration & Conciliation Act against the award dated 31.10.2010 passed in favour of the First Respondent M/s. Nortan Intec Rubber (P) Ltd. by Second Respondent MSE Facilitation Council and Industries Commissioner and Director of Industries and Commerce (hereinafter shortly referred to as “MSMED”).

2. The facts, which are relevant for consideration herein are as follows:

The Petitioner-Company M/s. Goodyear India Ltd and the First Respondent M/s. Nortan Intec Rubber (P) Ltd. entered into Agreements on 14.05.1997 and 01.04.1999 thereby the Petitioner-Company agreed to supply to the First Respondent required quantity of butyl rubber, carbon black, valve components, chemicals for the manufacture and packing of butyl tubes by using the Plant and Machinery belonging to the First Respondent. The First Respondent was entitled to get conversion charges and Excise duty payable thereon against invoices. The Petitioner in terms of the Agreement supplied the materials, but the First Respondent, according to the Petitioner defaulted in supply of finished goods, as such, dispute arose between the parties, which was followed by M