JUDGMENT

TARUN CHATTERJEE, J.

Leave granted.

This appeal is directed against the judgment and order dated 25th of May, 2007 passed by a learned Judge of the High Court of Judicature for Rajasthan at Jaipur Bench in S.B. Arbitration Application No. 31 of 2005 by which the learned Judge had rejected the application under Section 11(6) of the Arbitration and Conciliation Act, 1996 (in short 'the Act') filed at the instance of the appellant.

The respondent - Union of India invited tenders for construction of 6 unit Type - II and 24 unit Type - I new quarters at Phulera Sub-Division Office under Railway Inspector, Kishangarh. An agreement was executed between the parties on 24th of April, 1996 under which in response to the said tender, the appellant submitted his offer, which was accepted and after completion of all kinds of formalities, the work order was issued to the appellant on 22nd of September, 1996. The initial estimated cost of the work was Rs. 32,74,904.37. In the said agreement, there is a Clause 64 in which the arbitration clause has been inserted. Clause 64 of the arbitration clause runs as under :-

"(i) In the event of any dispute or difference between the parties hereto