The petitioner, a private limited company, is stated to be engaged in the business of supply and sales of automative and industrial bearings in India. The petitioner claims to have entered into a non-exclusive contractual agreement with the respondent for supply of non-automobile wheel bearings, both imported and indigenous as per the contractual agreement and the respondent was appointed as a nonexclusive intermediator and distributor for supply supplying the aforesaid bearings to the end customers on terms and conditions which would form part and parcel of the invoices raised by the petitioner.

2. The respondent is stated to have placed orders on the petitioner through purchase orders, whereupon the petitioner raised invoices upon the respondent to the extent and value of the products supplied. The respondent acknowledged the receipt of the goods, after affixing the signature and the seal on the consignment note, which is stated to be duly accompanied by the relevant invoices in original. Such invoices in turn are stated to have been accompanied by the terms and conditions as set out in the General Terms of Business (GTB). The consignment note is also stated to have containe