REINHART INDIA (PRIVATE) LIMITED vs BASHIR COTTON MILLS LIMITED Ss — 2023 CLD 1051 LAHORE-HIGH-COURT-LAHORE |

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REINHART INDIA (PRIVATE) LIMITED VS BASHIR COTTON MILLS LIMITED Ss. 6 & 7---New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, Art. V(1)(c)---Recognition and enforcement of award---Terms and conditions of contract, violation of---Non-filing of appeal against Award---Effect---Respondent company committed default in terms of contract and did not establish letter of credit in favour of applicant company within stipulated period---Applicant company sought enforcement and recognition of award announced by International Cotton Association (Association)---Respondent company raised objections against award---Validity---In relation to grant of interest/compound interest or alleged erroneous findings of arbitral tribunal about measurement standard, respondent company had remedy of appeal available to it under by-laws of the Association or by recourse to curial law---Respondent company chose not to avail remedies available to it with the result that Award had become final---Respondent company waived its right for raising such objections at enforcement stage---Grounds listed in New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, on the basis of which a Court could refuse to enforce an arbitral award were exhaustive---Standard of review on defense based on Art. V(1)(c) of New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, was fairly limited and such defenses did not include mistakes of fact or law by the arbitrators---Court before which a petition for enforcement of award was brought could not review merits or substance of award on the principle that the Court could not substitute its judgment for that of the arbitrators---High Court could not enter into reappraisal of merits of the award like an Appellate Court---Claim of parties arising from their contract and grant of interest and compound interest could not form any basis for refusing to endorse the award---Award in question was passed within the parameters of the dispute referred to the arbitral tribunal and did not exceed its authority or mandate---High Court recognized the award as respondent company failed to raise any valid defense in accordance with Art. V of New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958---High Court directed to enforce the award as a judgment of High Court---Application was allowed, in circumstances.

REINHART INDIA (PRIVATE) LIMITED vs BASHIR COTTON MILLS LIMITED Ss — 2023 CLD 1051 LAHORE-HIGH-COURT-LAHORE

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