Context and Factual Background:
1. This is a Petition filed under Part II of the Arbitration and
Conciliation Act, 1996 (“the Act”), seeking recognition and
March 17, 2026
Chaitanya
Judgment-CARBP-214-2024-F.doc
enforcement of an Arbitral Award dated October 27, 2022 (“Subject
Award”) passed by a Learned Sole Arbitrator under the aegis of the
International Chamber of Commerce (“ICC”) in London.
2. The disputes and differences between the parties relate to a
Memorandum of Understanding dated June 20, 2016 (“MOU”),
pursuant to which the Petitioner, Trading and Agency Services Limited
WLL (“Trading and Agency”) and the Respondent, Ion Exchange
(India) Limited (“Ion Exchange”) entered into four sub-contracts, all
dated October 27, 2016 (“Sub-Contracts”), in connection with plants
set up by the ultimate clients of Trading and Agency, namely, Ras
Laffan Olefins Company Ltd. (“Ras Laffan”) and Qatar Chemical
Company Limited (“Qatar Chemical”). In this judgement, Ras
Laffan and Qatar Chemical are collectively referred to as “Main
Clients”.