AI Structured Summary
Not yet generated for this judgment
Judgment
PURUSHAINDRA KUMAR KAURAV, J. (ORAL)
The present petition has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 by the petitioner, seeking appointment of an Arbitrator, to adjudicate upon the disputes that have arisen between the parties under the Agreement for Sale dated 20.02.2011.
The Court takes note of Clause 14 of the Agreement for Sale dated 20.02.2011, which reads as under:-
“14.If any dispute arises between the parties hereto of the first part and the second part regarding the interpretation of any term of this deed or carrying out or complying with the same, it shall be referred to a common sole arbitrator Advocate Kruna Nidhar, Ch. No. 188-A, Patiala House, New Delhi Enrol. No. D-458/98 and in absence of him any arbitrator agreed upon by both the parties governed by the ARBITRATION and CONCILLATION ACT 1998.”
Learned counsel for the parties jointly submit that Mr. Vineet Malik, Advocate can be appointed as Arbitrator to adjudicate the dispute, which has arisen in the instant matter.
In view of the above, the Court appoints Mr. Vineet Malik, Advocate (Mobile No. +91 99998-34393, e-mail id- [email protected]) as the sole Arbitrator to adjudicate upon the disputes between the parties.
The Sole Arbitrator may proceed with the arbitration proceedings, subject to furnishing to the parties, requisite disclosures as required under Section 12 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as “A&C Act”).
The Sole Arbitrator shall be entitled to fee in accordance with the IVth Schedule of the A&C Act; or as may otherwise be agreed to between the parties and the learned Sole Arbitrator.
The parties shall share the arbitrator's fee and arbitral cost, equally.
All rights and contentions of the parties in relation to the claims/counterclaims are kept open, to be decided by the Sole Arbitrator on their merits, in accordance with law.
Needless to say, nothing in this order shall be construed as an expression of opinion of this Court on the merits of the controversy between the parties Let the copy of the said order be sent to the newly appointed Arbitrator through the electronic mode as well.
Accordingly, the instant petition stands disposed of