HONBLE ROHIT RANJAN AGARWAL,J. - (1.) Heard Sri Anurag Khanna, learned Senior Counsel, assisted by Ms. Gunjan Jadwani, learned counsel for the applicant and Sri Swapnil Kumar, Advocate along with Sri Sudhanshu Kumar, learned counsel for the respondents.
(2.) This application under Section 11(6) of the Arbitration and Conciliation Act, 1996 has been filed for the appointment of arbitrator invoking the arbitration clause, as provided in the Promoter's Agreement dated 19.07.1993.
(3.) Facts in brief, of the case which is admitted to both the parties are, that State of Uttar Pradesh acquired 800 acres of land at Masuri Gulaoti Industrial Area comprising of Village Dehra, Amapur, Lodha, Raoli, Shekhupura, Khichra, Pargana Dasna, Tehsil Hapur, District Ghaziabad. The land so acquired was conveyed to Uttar Pradesh State Industrial Development Corporation Limited (for short "UPSIDC") for the purpose of industrial development.;