TaxTMI 
TaxTMI 
TaxTMI 
2016 (7) TMI 1119
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.... Vihar, Delhi. The petitioner is engaged in the business of manufacturing of products relating to home furnishing and upholstery etc., exclusively for the respondent since 2000. The respondent-SARL DANSET DECO is a concern having its office at 240 Rue De La Lys 59250, Halluin, France which is engaged in the business of purchase and sale of the product relating to home furnishing and upholstery and is the buyer of the products manufactured by the petitioner. Accordingly, a 'Buyers Agreement' was executed on 18.10.2012 at New Delhi between the petitioner and the respondent. As per the aforesaid agreement, the petitioner has been selling/supplying its aforesaid products and the respondent has been buying/purchasing the products for resale/sale....
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.... against various orders. The respondent cancelled a few orders to the tune of Euro 272368.25. The respondent committed breach of the terms and conditions of the 'Buyers Agreement' because cancelled orders were not restored. Thus, the respondent is liable to compensate the petitioner for cancelling orders and reimburse for cost and damages incurred in procuring material worth Euro 272368.25, just prior to the date of shipment and also for preparing samples as per the request of the respondent dated 25.05.2012 and 26.07.2012. As per Clause 4.1 of the 'Buyers Agreement', the respondent shall not purchase/obtain/ deal with the products or any goods that compete with them, for sale from any person, firm or company in India other than the petitio....
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....Judicial Services (V.R.S.), Member Judicial, Railway Claims Tribunal (Retd.) as an arbitrator. Petitioner requested the respondent to nominate its arbitrator so as to enable these arbitrators nominated by the parties to further nominate the presiding arbitrator and constitute an arbitral tribunal. 5. The petitioner filed a petition before the Commercial Court in Lille to seize all the bank accounts of the respondent with the banks Caisse d' Epargne, GCE Trade and HSBC bank alongwith all money, values and/or bonds held by these banks on behalf of the respondent. The court's bailiffs seized a total amount of Euro 48000 in HSBC bank on 11.10.2013 and Caisse d' Epargne on 14.10.2013 in compliance to order of Appellate Court, Douai, France date....
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....ents and the service of notice is complete. 7. We have heard the learned counsel for the petitioner at some length. Despite service of notice, respondent has chosen not to appear. The material facts are not in dispute that 'Buyers Agreement' was executed between the parties on 18.10.2012. Clause 14 of the said agreement provides for settlement of dispute in relation to the agreement by way of arbitration. Clause 14 reads as under:- "14. Arbitration 14.1 Any dispute, difference, controversy or claim ("Dispute") arising between the Parties out of or in relation to or in connection with this Agreement, or the breach, termination, effect, validity, interpretation or application of this Agreement or as to their rights, duties or liabilitie....