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TMI Blog2020 (4) TMI 876X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent : Vineet Naik, Senior Advocate, Mohit Arora, Rajat T. i/b Tuli and Co., Ameya Gokhale, Veena Sivaramakrishnan, Vaibhav Singh i/b Shardul Amarchad Mangaldas & Co., Akshay Kolse-Patil and Avinav Mukharjee i/b Kochar & Co. DECISION A.A. Sayed, J. 1. The above Petitions have been filed under section 9 of the Arbitration and Conciliation Act seeking directions restraining the Respondent-Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to foods, earthquake, typhoons, epidemics and other natural calamities), war or armed conflict or serious threat of the same, government order or regulation, labor dispute or any other similar cause beyond the control of "Seller" or any of its suppliers or sub-contractors which seriously affects the ability of "Seller" or any of its suppliers or sub-contractors to manufacture and deliver the "G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... troversies or differences which may arise between the parties, out of or in relation to or in connection with the Contract, or for the breach thereof, shall be finally settled by arbitration in Seoul, Korea/Singapore/London in accordance with the Commercial Arbitration Rules of the respective Commercial Arbitration Board and under the Laws of Korea/Singapore/London. The award rendered by the arbit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ers. c. The contract terms are on Cost and Freight basis (CFR) and the Respondent No. 1 has complied with its obligations and performed its part of the contracts and the goods have been already shipped from South Korea. The fact that the Petitioners would not be able to perform its obligations so far as its own purchasers are concerned and/or it would suffer damages, is not a factor which can be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioners so as to resile from its contractual obligations with the Respondent No. 1 of making payments. f. The Judgments relied upon by the learned Counsel for the Petitioner in Energy Watchdog Versus CERC (2017) 14 SCC 80 and Satyabrata Ghose Versus Mugneeram Bangure & Co. (1954) SCR 310 do not assist the case of the Petitioners and are distinguishable on facts. 5. In the light of the abov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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