JUDGMENT :

Arup Kumar Goswami, J.

1. This application is filed under Section 11(4) and (6) of the Arbitration and Conciliation Act, 1996 (for short, "the Act of 1996") for appointment of an arbitrator.

2. The applicant is in the business of running a cold-storage for perishable consumables belonging to farmers/vendors. It had taken a Standard Fire & Special Perils Policy from the respondent-company for the year 2010-11. For the year 2011-12, the applicant had taken two Standard Fire & Special Perils Policies bearing Nos. OG-12-1819-4005-00000009 for Rs. 2,00,00,000/- (Rupees Two Crores) and OG-12-1819-4005-00000010 for Rs. 3,00,00,000/- (Rupees Three Crores) from the respondent-company on 28.05.2011. It was regularly paying the premium and submitting monthly stock declaration statements.

3. On 21.12.2011, a major fire accident had taken place in the cold-storage unit due to short circuit resulting in the entire premises of the cold-storage unit being gutted. All the commodities stored in the cold storage also went up in flames. On that day itself, the applicant informed the respondent about the incident. Discussions had ensued in between the representatives of the applicant and the res