ORDER

This original petition has been filed under Section 34 (2)(b)(ii) & (2A) of the Arbitration and Conciliation Act , 1996 (for brevity, hereinafter referred to as “the Act”) against the award passed by the sole Arbitrator dated 25.01.2020.

2. The petitioner, who is the claimant, submitted a claim petition before the sole Arbitrator on the ground that they are engaged in the manufacture and supply of cylinders used for filling Liquified Petroleum Gas (LPG). The petitioner entered into a lease agreement on 27.07.2016 with the respondent and as per clause 2 of the lease agreement, the respondent must ensure the availability of funds for the manufacturing activities. The running expenses such as electricity, maintenance, etc., were to be borne by the respondent. As per clause 3 of the agreement, the consideration for the lease was to be adjusted from the profit and the respondent was permitted to use the registered office of the claimant at Chennai. The respondent had invested a sum of Rs.1,51,62,000/- in the business, which amount was mustered by the respondent from various third parties. The respondent defaulted in payment of their statutory dues by failing to honour the suppliers