- (1.) This is an application by the defendants/petitioners under S. 8 of the Arbitration and Conciliation Act, 1996 ("the said Act" for short) inter alia for an order for reference of the claim of the plaintiff in this suit to arbitration in terms of the arbitration agreements entered into by and between the plaintiff and the first petitioner Grapco Mining and Co. Ltd. The said arbitration agreements are contained in two several lease agreements respectively dt. 9th Sept. 1994 and 21st Oct, 1994. The said lease agreements are signed by the plaintiff and the first petitioner. The said lease agreements are both annexures to the present application
(2.) The arbitration clauses contained in the aforesaid lease agreements are identical and it would be convenient at this stage to set out one of the said arbitration clause (at page 72 of the petition) :- "Except where it has been provided otherwise, any dispute or difference arising out of or in connection with the agreement between the parties including any dispute or difference relating to the interpretation of the agreement or any clause thereof shall be referred to the sole arbitration of a person appointed by........... and the provisions of The Arbitration Act, 1940 and rules framed thereunder and any amendment thereto, from time to time, shall apply. No objection shall be taken on the ground that the arbitrator so appointed is an employee of the Lessor or is in any way associated with the Lessor. The award of the arbitrator shall be final, conclusive and binding on all the parties. The arbitrator shall be competent to decide whether any matter of dispute or difference referred to him falls within purview of arbitration as provided for above and/or any matter relating to arbitration under the Arbitration Act, 1940"
(3.) It is not in dispute that by reason of the repeal of the Arbitration Act, 1940 by the said Act, the provisions of the said Act would apply to the said arbitration clause.;