B. N. Srikrishna, J. - (1.) This is an application under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act) for appointment of a Presiding Arbitrator/Chairperson of the Arbitral Tribunal under the arbitration agreement. It has been placed before me as the person designated by the Chief Justice to act under Section 11(6) of the Act.
(2.) The Respondent-Company has a lease of the land situated at Plot No. A-11, Sector -62, Noida from the New Okhla Industrial Development Authority for a period of ninety years. The Respondent wanted to construct and develop an Exhibition Centre on the said land. There were negotiations between the Petitioner-Company and the Respondent-Company, as a result of which an exclusive Management Agreement was arrived at on 29-10-2003. Under the said agreement, the Petitioner was granted the exclusive right to manage the said plot of land for a period of ten years from the date on which Vacant Possession was handed over to it. Certain other terms as to payments were agreed to between the parties. Two clauses, 8.0 and 8.1 of the said agreement, which are of relevance, are as under: "8.0 In the event of breach of warranties by any of the parties the other party can seek relief by way of specific performance of the contract. 8. 1 Arbitration: Any dispute, controversy or claim arising out of or in relation to this exclusive Management Agreement shall be settled by a panel of three arbitrators (the Arbitration Panel" in accordance with the provisions of the Arbitration and Conciliation Act, 1996. ITEC and Rodemadan shall appoint one arbitrator each and such arbitrators shall, within seven days of their appointment, designate a third person to act as the chairman and the presiding arbitrator. The arbitral proceedings shall take place in Delhi and shall be conducted in the English language. Any such dispute, controversy or claim submitted for arbitration shall be considered a commercial dispute arising under the Arbitration and Conciliation Act, 1996. The award of the Arbitration Panel shall be a reasoned one, and shall be final and binding on the Parties."
(3.) Certain disputes had arisen between the parties, as a result of which, on 16-3-2005 the Petitioner filed an application under Section 9 of the Act before the High Court of Delhi (OMP No. 98/2005) and obtained an order directing the Respondent to maintain status quo with regard to the possession and title of the said plot of land.;