| Case ID |
1eec838c-46c0-4739-b36e-f511bcbd85a2 |
| Body |
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| Case Number |
Civil Rule No. 1032 of 1958 |
| Decision Date |
Dec 17, 1958 |
| Hearing Date |
|
| Decision |
The Dacca High Court dismissed the petitioner's application for revocation of the authority of the arbitrators under section 5 of the Arbitration Act, 1940. The court held that it is essential to exercise caution in granting such revocation as it could lead to a substantial miscarriage of justice. The court emphasized the importance of adhering to the parties' agreements and the sanctity of contracts. The decision noted that the petitioner had previously submitted to the arbitration process knowing the potential conflicts of interest and could not later claim bias or unfairness. Furthermore, the court pointed out that the apprehensions regarding the arbitrators' competence were unfounded, as the contract included provisions for arbitration that the parties agreed upon. Ultimately, the court maintained the integrity of the arbitration process, allowing it to proceed without interference. |
| Summary |
This case revolves around the interpretation and enforcement of the Arbitration Act (X of 1940) in the context of a commercial dispute between Pakistan Trading Company and M. M. Ispahani, Ltd. The petitioner sought to revoke the authority of the arbitrators after realizing the complexities involved due to the devaluation of currency affecting the contract. The court highlighted the necessity for parties to honor their arbitration agreements and not to withdraw lightly from their obligations. This ruling reinforces the significance of arbitration as a means of dispute resolution, ensuring that parties cannot escape their contractual commitments without valid justification. Keywords such as 'Arbitration Act', 'Commercial Dispute', 'Dacca High Court', and 'Judicial Precedent' are essential for understanding the legal landscape surrounding this case. |
| Court |
Dacca High Court
|
| Entities Involved |
Pakistan Trading Company,
M. M. Ispahani, Ltd.
|
| Judges |
CHOWDHURY, JUSTICE
|
| Lawyers |
Asraral Hossain,
Md. Nurul Huq,
A. S. M. Shamsuzzaman
|
| Petitioners |
Pakistan Trading Company
|
| Respondents |
M. M. Ispahani, Ltd.,
Another Opposite Party
|
| Citations |
1960 SLD 379,
1960 PLD 81
|
| Other Citations |
Bhuwalka Brothers Ltd. v. Fatehchand Murlidhar. 87 C L J 71,
Bala Bux Agarwala v. Lachminarayan Jute Manufacturing Co., Ltd. 51 C W N 863,
G. Kemp v. Rose (1858) 1 Giff 258,
Reliance Investment Co. Ltd. v. Union of India A I R 1957 Cal. 151
|
| Laws Involved |
Arbitration Act (X of 1940)
|
| Sections |
5
|