Indian Kanoon - Search engine for Indian Law

Bombay High Court

Itc Limited vs Starship Freight Pvt. Ltd on 18 December, 2020

Author: G.S. Patel

Bench: G.S. Patel

                                                                        P-CARBPL-9331-20.DOC




                   Shephali



                        IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                               ORDINARY ORIGINAL CIVIL JURISDICTION
                                      IN ITS COMMERICIAL DIVISION
                     COMM ARBITRATION PETITION (L) NO. 9331 OF 2020

                   ITC Ltd                                                      ...Petitioner
                         Versus
                   Starhip Freight Pvt Ltd                                    ...Respondent

Mr Rahul Narichania, Senior Advocate, with MR Shiv Iyer, Aditi Maheshwari & Ankita Sen, i/b Ganesh & Co., for the Petitioner. Mr Ashwin Shanker, with Mr Bimal Rajsekhar & Mr Kunal Naik, for the Respondent.

                                             CORAM:         G.S. PATEL, J
                                                            (Through Video Conference)
                                             DATED:         18th December 2020
                   PC:-

1. Heard through video conferencing.

Shephali

2. The matter was permitted to be circulated for urgent reliefs at Mormare 3.00 pm. Mr Narichania for the Petitioner and Mr Shanker for the Digitally signed by Shephali Mormare Date: 2020.12.18 Respondent have had some discussions. They have agreed to the 17:23:53 +0530 following terms.

3. The parties have agreed that the charter party dated 25th November 2020 will be formally amended to the extent of its Page 1 of 3 18th December 2020 P-CARBPL-9331-20.DOC arbitration clause to provide for a domestic arbitration with a venue in India and governed by Indian law, both substantive and procedural. This arbitration will be before a learned sole Arbitrator to be decided by the parties or appointed by the Court. Parties are agreed that the schedule of fees specifed by the High Court will apply.

4. This will require a formal written signed document. That is to be done by 31st December 2020.

5. The Respondents have a claim against the Petitioners, which the Petitioners dispute. However, on a without prejudice basis, the Petitioners agree that they will deposit an amount of Rs. 51.45 lakhs with the Prothonotary and Senior Master. This amount is to be invested in accordance with the usual practices of that ofce. It is to be held as security to the credit of the arbitration Award and any challenge to that Award.

6. By the end of the closing hours of business tomorrow, i.e. by 5.00 pm on 19th December 2020, the Respondent will issue the remaining Bills of Lading in consonance with the Mate's Receipt in respect of the Corn Cargo that is aboard the Vessel in respect of which this is chartered party.

7. Obviously in the arbitration all rights and contentions on both sides are expressly kept open. All concerned will act on an authenticated copy of this order digitally signed by the Private Secretary of this court.

18th December 2020 P-CARBPL-9331-20.DOC

8. The Petition is disposed of in these terms. There will be no order as to costs.

9. This order will be digitally signed by the Private Secretary of this Court. All concerned will act on production of a digitally signed copy of this order.

(G. S. PATEL, J) Page 3 of 3 18th December 2020