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Judgment
Ms. Tulip De, learned Counsel for the respondents, submits, on instructions, that her client has no objection to the dispute in this case being referred to arbitration and to OMP (I) (COMM) 411/2023 being relegated for decision by the learned Arbitral Tribunal thus constituted to be decided as a petition under Section 17 of the Arbitration and Conciliation Act 1996, retaining the interim order dated 18 December 2023 in place, subject to orders to be passed by the learned Arbitral Tribunal under Section 17.
Accordingly, this Court appoints Mr. Amit Chadha, Advocate (Tel: 9911116613) as the arbitrator to arbitrate on the dispute between the parties.
The fees of the learned arbitrator shall be fixed in consultation with the parties.
This Court expresses no observation on the merits of the controversy. All defences of fact and law as well as preliminary objections, if any, shall be open to be urged before the learned Arbitrator who shall take a decision thereon in accordance with law.
The learned Arbitrator is also requested to file the requisite disclosure under Section 12(2) of the 1996 Act within a week of entering on the reference.
By consent of parties, the arbitration shall take place under the aegis of the Delhi International Arbitration Centre (DIAC) and the arbitrator shall be entitled to charge fees as per the Schedule of Fess maintained by the DIAC.
ARB P 688/2024 stands disposed of accordingly.
With consent of parties, OMP (I) (COMM) 411/2023 is relegated for decision by the learned arbitrator treating it as an application under Section 17 of the 1996 Act. The interim order dated 18 December 2023 passed by this Court shall continue to remain in force subject, however, to orders to be passed by the learned arbitrator in OMP (I) (COMM) 411/2023 under Section 17 of the 1996 Act.
OMP (I) (COMM) 411/2023 also stands disposed of in the aforesaid terms.