1. The petitioners, through the medium of present petition under S.34 of the Arbitration and Conciliation Act, have challenged award dated 10.04.2023 passed by the learned Arbitrator, whereby the respondent / claimant has been held entitled to recover an amount of Rs.25,20,969 / along with interest @8% per annum from 31.08.2021 till the date of its realization, from the petitioner company.

2. As per case of the petitioners, in the year 2015, they started purchasing automotive accessories from the respondent company. It has been claimed that without the authorization of the petitioner company, its previous General Manager entered into an agreement on behalf of the petitioner company with the respondent company on 13th June, 2018. The agreement was valid for a period of two years from 1st October, 2017. According to the petitioners, the petitioner company conti