O R D E R

This petition has been filed by the Award Debtor under Section 34

2(a) & (b) (ii), 34(2-A) of the Arbitration and Conciliation Act, 1996, to set aside the award passed by the learned Arbitrator in Arbitration Case No.2 of 2019 on 01.09.2021.

2. By the impugned Award dated 01.09.2021, the learned Arbitrator has allowed the claim filed by the respondent (claimant) by awarding a sum of Rs.50,00,000/- together with interest at 12% per annum from the date of payment till the date of receipt.

3. Operative portion of the impugned Award passed by the learned Arbitrator on 01.09.2021 reads as under:-

“49.In light of the above discussions, the issues are answered accordingly herein below:

Issue 1:

The claimant has violated the conditions of the agreement dated 10.11.2016 but however, the said agreement cannot be held to be a partnership agreement since the requisite conditions for a partnership are not satisfied and the agreement is to be construed as a finance / loan agreement and accordingly, the nature of relationship between the parties will have to be determined in that manner.

Issue 2:

The claimant cannot go beyond the terms of the agreement but however, in light of the finding in is