ORDER :

1. By this Arbitration Petition filed under Section 34 of the Arbitration and Conciliation Act , 1996 (for short “the Arbitration Act”), impugned Award dated 18th October, 2019 has been challenged. By the impugned Award, the Petitioner has been directed to pay an amount of US$ 632,100 plus interest thereon @ 6% per annum from 1st January, 2015 till payment and / or realization.

2. The limited issue which arises in the Arbitration Petition and which was noticed by this Court vide Order dated 6th January, 2023 is the issue of limitation and accordingly this Court had directed that the Petition shall be heard at the stage of admission.

3. It is necessary to reproduce the certain material dates of events which are as under:-

(i) The Petitioner (buyer) on 15th September, 2008 placed a purchase order for forgings for US$ 1,360,000 with the Respondent (Seller);

(ii) The Petitioner (buyer) on 30th September, 2008 placed a further purchase order for forgings for US$ 735,280 with the Respondent (Seller);

(iii) On 14th January, 2009, the Petitioner paid US$ 1,150,460 for the above forgings leaving a balance of US$ 719,710;

(iv) The Petitioner further made payment of the US$19,801.55 on 5th