| Case ID |
2b7ef4c3-03a4-4f7a-aed6-6496c10674f7 |
| Body |
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| Case Number |
Suit No. 2710 of 2017 |
| Decision Date |
Feb 24, 2020 |
| Hearing Date |
Jan 16, 2020 |
| Decision |
The Sindh High Court dismissed the objections raised by the defendant against the award issued by the arbitrator. The court found that the objections regarding the non-payment of the amount due and the validity of the exchange rate stipulation were unfounded. The court upheld the award, emphasizing that the contract and obligations were valid, and that the objections raised by the defendant amounted to unjust enrichment. The court concluded that the award was well-reasoned and based on adequate consideration of the evidence presented, thereby making the award a rule of the court. |
| Summary |
In the case between Iran Central Iron Ore Company and Pakistan Steel Mills Corporation, the Sindh High Court addressed the arbitration award concerning the payment for iron ore supplied under a contract. The court examined claims regarding the validity of the exchange rate and the implications of international sanctions on the contract's enforceability. Ultimately, the court upheld the arbitrator's decision, emphasizing the importance of honoring contractual obligations and the legal principles surrounding unjust enrichment. This case highlights the critical balance between international trade regulations and local contractual laws, illustrating the challenges faced by companies operating under complex legal frameworks. Key terms include arbitration, contract law, international sanctions, and unjust enrichment, all of which are pivotal in understanding the legal landscape of this case. |
| Court |
Sindh High Court
|
| Entities Involved |
IRAN CENTRAL IRON ORE COMPANY,
PAKISTAN STEEL MILLS CORPORATION
|
| Judges |
AGHA FAISAL, JUSTICE
|
| Lawyers |
Furkan Ali,
Zeeshan Adhi
|
| Petitioners |
IRAN CENTRAL IRON ORE COMPANY THROUGH AUTHORIZED REPRESENTATIVE
|
| Respondents |
PAKISTAN STEEL MILLS CORPORATION (PRIVATE) LIMITED
|
| Citations |
2021 SLD 1452,
2021 YLR 613
|
| Other Citations |
Gerrys International (Private) Limited v. Aeroflot Russian International Airlines 2018 SCMR 662,
Chaudhry Qaiser Mahmood v. Province of Punjab and another 2012 SCMR 1606,
PLD 2011 SC 506,
PLD 2006 SC 169,
PLD 2003 SC 301,
PLD 1996 SC 108,
1984 SCMR 597,
2014 SCMR 1268,
PLD 1987 SC 393,
Terni SPA v. PECO Limited 1992 SCMR 2238,
Sandoz Limited v. Federation of Pakistan 1995 SCMR 1431,
Maulana Abdul Haque Baloch and others v. Government of Balochistan and others PLD 2013 SC 641
|
| Laws Involved |
Arbitration Act, 1940
|
| Sections |
14(2),
20,
30,
33
|