Enforcement of a foreign arbitral award is granted under Section 48 of the Arbitration Act, emphasizing limited grounds for refusal based on public policy, requiring strong evidence of violation.

Prelude:-

The classic idiom “Won the battle but lost the war” means achieving a small or temporary victory/success but ultimately failing to reach a larger, more important goal. It is often used to describe the situations where a short-term success or triumph is outweighed by a greater, long-term loss or failure.

After wining all the battles, one should not be left to feel as if he has lost the war. If someone achieves success by winning these battles, then he should not be left to feel that he has failed to achieve the overall goal.

“Whether an award-holder can be deprived of enjoying the fruits of the award even after winning a prolonged legal battle before the Arbitration Tribunal and Appellate Tribunal? Whether an award issued by a Foreign Tribunal can be executed & enforced in India or not?” These legal issues need to be adjudicated in the instant arbitration application.

Factual matrix and prayer:-

1. The instant arbitration application has been preferred under Chapter I of Part-II of the Arbitration and Conciliation Act, 1996 (for short, ‘the Act of 1996’) with the following prayer:-

“It is, therefore, respectfully prayed that this application may kindly be allowed and this Hon'ble Court may graciously be pleased to:

1. Declare that the Award 4618A dated 28.09.2021 rendered by the Board of Appeal, GAFTA at London be deemed to be a decree of this Hon'ble Court;

2. Pronounce judgment according to the Award 4618A dated 28.09.2021 rendered by the Board of Appeal, GAFTA at London and direct the Respondent to pay to the Petitioner a sum of USD 999,382.28, equivalent to Rs.7,63,72,794 (Rupees Seven Crores Sixty Three Lacs Seventy Two Thousand Seven Hundred and Ninety Four only) along with interest as per the award 4618A from the date of filing the present petition till the date of realization;

3. Attach and cause to be sold movable and immovable assets of the respondent in order to satisfy the award 4618A dated 28.09.2021 rendered by the Board of Appeal, GAFTA at London;

4. Order the Respondent to pay the Petitioner the costs of this Petition;

5. Any other or further relief which this Hon'ble Court may deem fit in the facts and circumstances of the case may kindly be granted in favour of the Petitioner and justice be done.”

2. By way of filing this arbitration application, the applicant seeks a declaration that the award dated 28.09.2021, issued by the Board of Appeal, Grain and Feed Trade Association (for short, ‘GAFTA’) in London, England be treated/recognized as a decree of this Court. The applicant further requests that judgment be pronounced in accordance with the aforesaid award, as referred by the Board of Appeal, GAFTA in London and direct the respondent to pay a sum of USD 999,382.28 (equivalent to Rs. 7,63,72,794/-) along with interest, as per the award 4618A, from the date of filing the instant arbitration application until its actual realization. Additionally, a prayer has also been made by the applicant for attachment and sale of movable and immovable assets of the respondent in order to satisfy the aforesaid award and further cost of the instant application be imposed on the respondent.

Submissions by the Petitioner:-

3. Counsel for the applicant submits that the applicant and the respondent entered into three separa