K. S. SHRIVASTAV, J.

( 1 ) BY this application filed under Section 11 (6) of the Arbitration and conciliation Act, 1996 (for short, the new Act ), the petitioner/firm seeks appointment of an independent arbitrator for adjudicating the dispute that has arisen between it and the respondent/company.

( 2 ) BY an agreement dated 16-2-1995 concluded between the petitioner / firm and the respondent/company, construction of factory building, formation of roads and other civil engineering works of the respondent/company was entrusted to the petitioner/firm. The estimated value of the contract was approximately Rs. 48 lakhs. The work has not been completed within the stipulated period. Clause 56 of the agreement provides for adjudication of the disputes through arbitration.

( 3 ) THE case of the petitioner/firm, in brief, is that it was submitting running bills to the respondent/company and it was paid amounts in instalments. On 23-1-1996, the petitioner/firm has submitted the final bill amounting to Rs. 63,14,070/ -. The respondent/company kept the matter pending for weeks and after repeated demands, they had a negotiation but it failed and thereafter the matter was referred to G. Satya Rao

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