JYOTI SINGH, J. (ORAL)
1. This petition is filed on behalf of the Petitioner under Section 34 of
the Arbitration and Conciliation Act, 1996 (‘1996 Act’) laying a challenge
to arbitral award dated 02.11.2022 passed by the learned sole Arbitrator.
2. Factual matrix to the extent relevant is that Petitioner is the sole
proprietor of M/s. SMSK Minerals Trading Company and is engaged in
supply of iron ore to the Respondent in Karnataka for the last several years.
During 06.01.2011 and 01.02.2011, Respondent desired to procure about
44,000 MT of iron ore for a total value of Rs.16,11,60,000/- and had paid
the said amount to the Petitioner at the time of placing the said purchase
orders. Pursuant to the said arrangement between the parties, Petitioner
supplied iron ore worth Rs.8,94,42,415/- to the Respondent by 31.05.2011
and balance quantity, as averred in the petition, was to be supplied in due
course.