Indian Oil Corporation Ltd. – Appellant
Versus
S. N. Sridharan M/s. Ajitha Gas Agency – Respondent
ORDER :
Prayer: Petition filed under Section 34(2)(b)(ii) of the Arbitration and Conciliation Act, 1996 to set aside the Award dated 18.07.2019 passed by the Arbitrator to the extent as aggrieved by the Petitioner in respect of award relates to the direction to the respondents to pay a sum of Rs.36,00,000/- to the claimant as damage within three months from the date of award failing which pay the said sum of Rs.36,00,000/- with interest @ 18 p.a. from the date of Award till the date of payment and to pay the cost of the petition.
Challenge has been made in this petition assailing the Award passed by the Sole Arbitrator appointed by this Court in respect of the dispute arose between the parties in Dealership Agreement entered between the Claimant and 1st Respondent in the Arbitral proceedings, dated 24.08.1989.
2. The parties are arrayed as per their own rankings before the Arbtitral Proceedings.
3. The brief facts leading to file this Original Petition is as follows:
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