JUDGMENT

Markandey Katju, J. —

1.By means of this Arbitration Application the applicant has prayed for appointment of an arbitrator under Section 11(5) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act) for resolution of the disputes between the parties arising out of the agreement dated 21.2.2006.

2.Heard learned counsel for the parties and perused the record.

3.The applicant is a company registered under the Indian Companies Act, having its registered office at Thane, Maharashtra. The respondent is a company incorporated under the law of Malaysia having its registered office at Miri, Sarawak, Malaysia. The respondent had been awarded a contract of 26 Well Unmanned Platforms by the Oil & Natural Gas Corporation (in short ‘ONGC’). The applicant had been short-listed as one of the potential sub-contractors for painting workscope package and was requested to submit its quotations. On going through the quotation of the applicant, the respondent issued a contract dated 21.2.2006. Copy of the agreement is at Annexure A-4 to this application.

4.Subsequently, the applicant received a letter dated 8.9.2006 from the respondent stating that they had no choice but t