Arbitration – Appeal. The claimant, PEC, was a company owned by the President of India.The defendant company, AGR, was a Thailand-based rice trader. PEC appealed under s 67 of the Arbitration Act 1996 against a finding by the GAFTA First-tier Tribunal that a purchase agreement had been concluded between the parties, through two individuals, R and J, on behalf of PEC, for the purchase of rice by PEC and that PEC were liable to pay AGR $6.25m. The Commercial Court, allowing the appeal, held that R and J had not had actual or apparent authority to conclude the purchase agreement, and that PEC had not made any arbitration agreement relating thereto.