( 1 ) THIS Arbitration Application is filed under S. 11 of the Arbitration and Conciliation Act, (for short "the New Act") read with Para 2 of the Scheme for Appointment of Arbitrators framed by the Chief Justice under sub-sec. (10) of S. 11 of the Arbitration and Conciliation Ordinance, 1996 seeking appointment of an independent Arbitrator for adjudicating the disputes that arose between the parties in connection with the work of"improvements to the circulating area, dismantling Block No. 6, cycle stand, portico and shifting of MCO"under Agreement No. SK/89 dated 15-2-1989.

( 2 ) THE material facts leading to filing of this application are the following:the applicant a partnership firm - is a Railway Contractor. It was entrusted with the aforesaid work by the South Central Railway (hereinafter referred to as "the Railways" for short) under the said agreement. The approximate value of the work that was to be done under the agreement was Rs. 1,96,316-25ps.

( 3 ) THE agreement contains an Arbitration Clause in clause 64 of the General Conditions of the Contract, which forms part of the agreement. The relevant portions of the said Clause are as under :-"64 (1) (i ). In