ORDER :

Arup Kumar Goswami, J.

1. Heard Mr. S.S. Prasad, learned Senior Counsel assisted by Mr. V.V. Ramakrishna - learned counsel for the applicants. Also heard Mr. O. Manoher Reddy, learned counsel for the respondents.

2. This is an application filed by the applicants under Section 11(5) & (6) of the Arbitration and Conciliation Act, 1996 (for short "the Act, 1996") for appointment of an arbitrator.

3. The applicant No. 1 is the father and the applicant Nos. 2 and 3 are his sons and the applicant No. 1 is the general power of attorney holder of the applicant No. 2.

4. The case of the applicants is that they are the absolute owners and possessors of land admeasuring 1877 sq. yards out of 2824 sq. yards along with ACC shed of old municipal ward No. 52, present ward No. 17, Old Assessment No. 26202T/3, New Assessment No. 575842, Door No. 40-17-192/1H, in RS.No. 28/1, situated near Greenlands Hotel, Labbipet, Vijayawada, Krishna District. The above land, which is described in schedule 'C', had fallen into the share of the applicant No. 1 under a registered deed of partition dated 18.09.2010.

5. In order to develop the property commercially, the applicants were looking for prospective build