ORDER :

1. Heard Mr. Amit Sibal, learned senior counsel for the petitioner and Mr. Gopal Jain, learned senior counsel for the respondent no. 1, the only contesting respondent.

2. Despite service of notice on all other respondents, there has been no appearance.

3. The present application has been preferred under Section 11(6) of the Arbitration and Conciliation Act, 1996 (for brevity, the Act) for appointment of a sole arbitrator as disputes have arisen.

4. It is submitted by Mr. Amit Sibal, learned senior counsel for the petitioner that an arbitration agreement exists between the parties in the Term Sheet. He has invited our attention to clause 16 of the said Term Sheet. It reads as follows :-

“Governing Law & Arbitration : This Term Sheet will be governed by Indian Law.

Any dispute between the parties arising from or relating to this Term Sheet which cannot be amicably resolved between the parties shall be referred to arbitration in New Delhi in accordance with the Arbitration and Conciliation Act, 1996. The Tribunal shall consist of 1 arbitrator to be agreed upon between the parties. The language of the arbitration shall be English and the decision of the arbitrator shall be final and