The petitioner has preferred the present petition under Section 11(5)
of the Arbitration and Conciliation Act, 1996, seeking appointment of a
learned sole Arbitrator to adjudicate the disputes alleged to have arisen
between the parties out of the purchase agreement dated 16.11.2020.
Learned Counsel appearing for the petitioner submits that disputes
have arisen between the parties in relation to the outstanding dues allegedly
payable by the respondent. It is submitted that despite repeated demands,
the respondent failed to liquidate the outstanding amount. Accordingly, the
petitioner issued a notice dated 01.04.2026 invoking the arbitration
agreement contained in Clause 39.1 of the purchase agreement and called
upon the respondent to concur in the appointment of a sole Arbitrator.
Since the respondent failed to act upon the said notice, the petitioner has
preferred the present petition.
