( 1 ) M/s. In Touch Technologies (India) Pvt. Ltd. , represented by its Director, has filed this application under Section 11 of the arbitration and Conciliation Act, 1996 (for short the Act ) r/w the Scheme for appointment of Arbitrators, seeking appointment of an Arbitrator for resolution of the disputes between them and the respondent.

( 2 ) THE applicant claims to have entered into a lease agreement under Lease Deed dated 18-6-2001 with the respondent, namely M/s. Ashwarya Builders, for leasing out their premises on the III Floor of premises bearing No. 8-2-5-2/1/ag, Road no. 7, Banjara Hills, Hyderabad, to the applicant for housing their office, for a period upto 17-7-2004. At the time of entering into lease agreement, the applicant claims to have paid security deposit in an amount of rs. 8,79,300/- to the respondent, as per the terms and conditions of the Lease Deed, which was refundable at the time of vacating the premises by them.

( 3 ) WHILE the agreement was in force, the applicant by their letter dated 14-8-2003 appears to have terminated the lease invoking Clause 21 of the Lease Deed, on the ground that they no longer required the premises as they were