Madras High Court
M/S.Rio Glass Solar Sa vs Shriram Epc Limited on 12 February, 2015
Author: T.S.Sivagnanam
Bench: T.S.Sivagnanam
In the High Court of Judicature at Madras Reserved on : 21.12.2016 Delivered on : 09/2/2017 Coram : The Honourable Mr.Justice T.S.SIVAGNANAM Original Petition No.587 of 2015 M/s.RIO Glass Solar SA, rep.by its Power of Attorney Agent Mr.Jose Maria Villanueva Fernandez ...Petitioner Vs Shriram EPC Limited, Chennai-8. ...Respondent PETITION under Section 47 of the Arbitration and Conciliation Act, 1996 to pass an order that the foreign award dated 12.2.2015 be deemed to be a decree of this Court and a direction to enforce and execute the said award as decree in favour of the petitioner and as against the respondent along with cost in entirety, cost of the petition be provided for. For Petitioner : Mr.Hiroo Advani for Mr.S.R.Ragunathan For Respondent : Mr.Vishnu Mohan for M/s.R.Parthasarathy & Rahul Balaji ORDER
This is a petition filed under Section 47 of the Arbitration and Conciliation Act, 1996 (hereinafter called the Act) seeking an order that the foreign award dated 12.2.2015 shall be deemed to be a decree of this Court and for a direction to enforce and execute the said award as a decree in favour of the petitioner and against the respondent along with costs in its entirety.
2. The petitioner is a company registered in Spain. The respondent is a private limited company registered under the Companies Act, 1956 with the registered office in Tamil Nadu. The petitioner is engaged in the manufacture of thermo solar parabolic mirrors and supplies mirrors to projects situated in including but not limited to Spain, USA, Algeria, Morocco, India and China. The petitioner is stated to have held negotiations during 2007 for the manufacture and supply of parabolic mirrors for use in the construction of thermo solar power plant located at Khasra No.08 Village Nokh, Tehsil Pokran, District Jaisalmar, India, with an initial plan for an agreement between M/s.Abhijeet Project Limited (hereinafter called APL), M/s.Corporate Ispat Alloys Limited (hereinafter called CIAL), the respondent herein (hereinafter called Shriram), M/s.Ener-T (hereinafter called ET) and the petitioner.
3. Pursuant to discussions, an agreement was entered into on 30.11.2011 and executed in counterparts as of 30.11.2011, 19.12.2011 and 02.1.2012 and the petitioner agreed to manufacture and sell and the Shriram agreed to purchase parabolic mirrors for a consideration of