Zarana Ltd, a company providing IT & ITES services entered into an agreement with Valcon Ltd, a Company registered in Hong Kong, to provide software services relating to implementation and maintenance of new ERP modu
CS Professional · Multidisciplinary Case Studies · PYQS · December 2023
Zarana Ltd, a company providing IT & ITES services entered into an agreement with Valcon Ltd, a Company registered in Hong Kong, to provide software services relating to implementation and maintenance of new ERP module. The agreement was for a period of one year, however, due to cost overrun and other administrative issues, there was a dispute between the parties. Valcon Ltd, referred the matter to sole arbitrator based in Singapore and an award was given by the arbitrator in favour of Valcon Ltd. Zarana Ltd filed an application under Arbitration and Conciliation Act, 1996 inter alia praying that the enforcement of impugned award be declined. In the background of judicial pronouncement, comment whether Zarana Ltd's contention is justified ?
Topics: Arbitration and Conciliation Act, 1996
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