- (1.) The applicant-Citibank, N.A. preferred this application under Sections 11(5), 11(10) and 11(12) read with Section 10 of the Arbitration and Conciliation Act, 1996 [hereinafter referred to as 'the Act'] praying for appointment of sole Arbitrator in an 'international commercial arbitration' in terms of Section 2(f) of the Act, to adjudicate the dispute between the parties.
(2.) The applicant-Citibank, is a national banking association duly constituted, registered and in existence in accordance with the laws of the United State of America now in force and having its head office at 399 Park Avenue, Borough of Manhattan, City of New York and having an office in India among other places at Citigroup Centre, G. C-61, Bandra- Kurla Complex, Bandra (East), Mumbai. The applicant- Citibank, being engaged in banking business in India pursuant to licences and approvals from relevant authorities including Reserve Bank of India, inter alia, issues Credit and Debit Cards collectively [hereinafter referred to as 'Citibank Cards'].
(3.) The respondent No.1-TLC Marketing PLC (for short 'TLC'], is a company incorporated under the provisions of the laws in force in the United Kingdom having its registered office at 54, Banker Street, London WIU 7BU. TLC is a company engaged in the business of marketing and selling inter alia leisure, life- style and travel services.;