JUDGMENT

B.N. Srikrishna, J.—This is an application under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as “the Act”) for appointment of a Presiding Arbitrator/Chairperson of the Arbitral Tribunal under the arbitration agreement. It has been placed before me as the person designated by the Chief Justice to act under Section 11(6) of the Act.

2. The Respondent-Company has a lease of the land situated at Plot No. A-11, Sector-62, Noida from the New Okhla Industrial Development Authority for a period of ninety years. The Respondent wanted to construct and develop an Exhibition Centre on the said land. There were negotiations between the Petitioner-Company and the Respondent-Company, as a result of which an exclusive Management Agreement was arrived at on 29.10.2003. Under the said agreement, the Petitioner was granted the exclusive right to manage the said plot of land for a period of ten years from the date on which ‘Vacant Possession’ was handed over to it. Certain other terms as to payments were agreed to between the parties. Two clauses, 8.0 and 8.1 of the said agreement, which are of relevance, are as under :

“8.0 In the event of breach of warr