Rajan Roy - (1.) Heard Sri Ratensh Chandra learned counsel for the applicant and Sri Shishir Jain learned counsel for the opposite parties.
(2.) This is an application under Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act, 1996'). This application was filed on 15.10.2012 and has remained pending since then.
(3.) Counter affidavit and supplementary counter affidavit have been filed by the opposite parties disputing the very existence of the Arbitration clause as alleged in the application and secondly, submitting that there has been a full and final settlement of the claim which has been accepted by the applicant himself but it has not been disclosed in the application, therefore, even otherwise the application is liable to be rejected. The arbitration clause in this case reads as under:-;