1. The present Petition, filed under Section 11(6) of the
Arbitration and Conciliation Act, 19961, seeks appointment of a
Sole Arbitrator for the purpose of resolution of disputes that are stated
to have arisen inter se the parties arising out of the Clause 20 as set
out in Hypothecation/Loan Agreement dated 02.03.2015. The said
clause reads as follows:
“20. Any conflict, difference, controversies, or disputes arising
between the parties, if not resolved mutually, shall be
submitted/referred to the arbitration of the Sole Arbitrator. The
notices like Demand Notice, Loan Recall – cum – Demand Notice
and/or telephonic conversations/ mails shall be deemed to be
sufficient proof for opportunity given to the Borrower and/ or
Guarantor(s) for resolving the issues and efforts of Amicable
Act
Settlement made by the Company.