Surya Prakash Kesarwani, J. - (1.) Heard Sri Srijan Mehrotra, learned counsel for the applicant and Sri Pranjal Mehrotra, learned counsel for the opposite party.
(2.) Present application has been filed for appointment of an arbitrator under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "the Act"). FACTS
(3.) Both the learned counsels for the parties jointly agreed that there was a lease agreement dated 4.2.2009 between the applicant and M/s. Vishal Retail Limited, New Delhi for lease of a Commercial property bearing municipal No.111/18 A, Harsh Nagar, Kanpur Nagar, U.P., which is G+8 storied building with built up area of 20,199 Sq. Fts. at the monthly rent of Rs.7,50,000/- which was to be enhanced by 15% after every three years from the lease rent starting date. Lease is for a period of 9 years. Clause 15 of the aforesaid lease agreement contains an arbitration clause as under: "In case of any difference or dispute arising between the parties herein or any of the terms and conditions contained herein, such difference or dispute shall be referred to sole arbitrator appointed mutually by the Lessee and the Lessor. The provision of the Arbitration and Conciliation Act, 1996 and any modification thereof shall be applicable for settlement of dispute, thus referred. The Courts at Kanpur shall have the sole and exclusive jurisdiction to try any such dispute that may arise out of this instant agreement.";