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52. It is submitted by the learned senior counsel that the Arbitral Tribunal has permitted the recovery of the trait value in excess of that prescribed under statutory price control notifications issued by the various State Governments from the petitioner. Various State Governments had introduced legislation to inter alia regulate the maximum sale price including the trait value charged for the Bt. cotton seed. He relied upon the Andhra Pradesh Cotton Seeds (Regulation pf Supply Distribution, Sale and Fixation of Sale Price) Act, 2007 and the Maharashtra Cotton Seeds (Regulation of Supply, Distribution, Sale kvm CARBP-737-19.doc and Fixation of Sale Price) Act, 2009. He relied upon A.P. Act and the explanatory statement thereto and would submit that the State Government had clearly intended on fixing the maximum sale price of the Bt. hybrid cotton planting seeds including the trait value. Similarly intent could be noticed under section 10 of the Maharashtra Act to fix the maximum sale price of the Bt.cotton seed including the trait value. section 10 of the Maharashtra Act is pari materia to section 11 of the AP Act.

74. It is submitted by the learned senior counsel that the relevant kvm CARBP-737-19.doc period for the arbitration proceedings was 1st April, 2015 to 14th November, 2015. The respondent had claimed amount of Rs.117 crores with interest. The petitioner had used MMBL Bollgard II ® technology of the respondent to produce Bt. cotton seeds and sell them to the farmers. He submits that for the Draft Red Herring Prospectus of the petitioner of a year prior to the claim period, the Bt. cotton seeds business of the petitioner was 69.73% i.e. approximately 70% of their business. The total revenue of the petitioner for the Financial Year 2015-16 was Rs.1054 crores as is reflected by the petitioner in the affidavit in reply dated 20th February,2019 filed by the petitioner in petition filed by the respondent under section 9 of the Arbitration Act in this court. The net profit for the Financial Year 2015-16 even according to the petitioner was Rs.154 crores as reflected in the said affidavit.

Facts and Submissions in Commercial Arbitration Petition No. 738 of 2019 :-

170. The petitioner in this case has impugned the order dated 11 th May, 2017 passed by the arbitral tribunal dismissing the application filed by the petitioner under Section 16 of the Arbitration Act and the impugned award dated 16th January, 2019 allowing some of the claims made by the respondent. Some of the relevant facts for the purpose of deciding this petition are as under:-

171. It is the case of the petitioner that on 9 th March, 2004, a Special Licence Agreement (for short "2004 SLA") was executed between the petitioner and the respondent wherein 50 cotton seeds transgenic kvm CARBP-737-19.doc variety with Bt. Trait were given to the petitioner with a right to respondent to develop new Bt. Cotton varieties and to sell cotton hybrid seeds with Bt. Trait under applicable patent rights for a period for 10 years and on the terms and conditions more particularly set out therein. The said 2004 SLA was extended from time to time until 10 March, 2015. On 10th March, 2015, the parties entered into Bollguard Technology Licence Agreement for continuation of the rights granted under 2004 SLA to develop and sell cotton hybrid seeds with Bt. trait. It is the case of the petitioner that the respondent purported to grant a patented technology as defined in the 2004 SLA and 2015 SLA as "Monsanto Tecnology" by way of a licence.

186. On 9th March, 2004, the petitioner and the respondent entered into a Special Licence Agreement ("2004 SLA") wherein the respondent gave 50 Cotton seeds with Bt. trait to the petitioner with a right to develop and sale Cotton Hybrid seeds with Bt. trait using the propriety varities of the petitioner and to sale cotton hybrid seeds with Bt. trait under applicable patent rights for a period of 10 years on the terms and conditions stated therein. The said 2004 SLA was extended from time to time until 10th March, 2015. On 10th March, 2015, the parties entered into Bollguard Technology Licence Agreement (the said "2015 SLA") on the terms and conditions set out therein. It was the case of the petitioner that the trait value charged and collected by the respondent became the subject matter of various State Government Price Control Notifications and since the year 2016 has been regulated by the Central Government under the Cotton Seeds (Price Control) Order, 2015. By an order dated 17th June, 2015, the Nagpur Bench of this Court upheld the power of the State Government of Maharashtra to reduce the price of Bt. Cotton Seeds Kharif for the season 2015-16 in the interest of farmers.