JOIN US
In its petition, it sought appointment of second arbitrator and presiding arbitrator as per the clause in a contract entered between the two parties for supply of 45,000 tonne of bauxite in September 2007. It further said it had nominated a retired Karnataka High Court judge as the arbitrator from its side, a contention rejected by Vedanta on the ground that there was no concluded contract between the parties. A bench headed by Justice K G Balakrishnan has posted the matter for hearing on November 9. Earlier, it had issued a notice. Trimex said, Vedanta has to pay damages to the extent of US$6 lakh to the shipowners besides loss of profit incurred by it due to breach of the contract. According to Trimex, it had no alternative but to claim damages for non-performance of the contract which resulted in cancellation of five shipments of 45,000 metric tonne bauxite besides 10 per cent which was confirmed by Vedanta by an email on October 16, 2007.