K. G. BALAKRISHNAN, C. J.

( 1 ) 1. The petitioner herein has filed an application under Section 11 of the Arbitration and Conciliation Act, 1996. The petitioner, a company incorporated under the laws of Singapore is carrying on business at No. 745, Toa Payoh Lorong 5, Singapore, 1231, now known as SHC CAPITAL LIMITED, 302 Orchard Road, # 10-01 Singapore 238862. The respondent company, Scantrans India Pvt. Ltd. was incorporated under the Companies Act, 1956, having its registered Office at 425, Pantheon Road, Egmore, Chennai- 600008. The petitioner alleges that petitioner and respondent entered into a joint venture agreement on 15-12-1993 for setting up a manufacturing unit in Chennai and to carry on the business of printing and colour separation. The Reserve Bank of India (RBI) granted permission to the joint venture company and the joint venture agreement was executed on 15-12-1993. The Sale Deed was executed on 26-4-1995. A dispute arose between the parties under Clause 8 of the Sale Deed relating to Arbitration. Clause 8 reads as follows:

8. 1. . . Any dispute arising out of or in connection with this Sale Deed, including any question regarding its existence, validity or termin