- (1.) Leave granted.
(2.) Controversy lies within a very narrow compass.
(3.) The factual background as projected by the appellant is as follows: On 22.12.2003 work order was issued by the respondent to the appellant. There was a clause for arbitration in the agreement which was to the following effect: "41. ARBITRATION B&R confidently feel that there shall not arise any disputes or differences during execution and completion of this order by the Contractor. However, in the event of any disputes or differences arise between Company (B&R) and Contractor (hereinafter called the said parties) touching or concerning the interpretation of the terms and conditions as performance of the order or in connection therewith or the rights and liabilities of either of the said parties hereto, the said parties shall endeavour to settle the same amicably through mutual agreement between them, but if the mutual settlement is not possible between the Company and the Contractor, the provisions of the Indian Arbitration & Conciliation Act, 1996 and all statutory re-enactment and modifications thereof and the rules made thereunder shall apply to such arbitrations.";