By this petition filed under Section 9 of the Arbitration and Conciliation Act, 1996 (for short `Arbitration Act, 1996’), the petitioner seeks an order and direction against the respondent to deposit in this court an amount of US $ 442,666.84 and for various interim measures. The learned counsel appearing for the respondent has raised a preliminary objection about maintainability of this petition in this court. In view of such preliminary objection, though both the learned counsel have addressed on several other issues raised in the petition, I will decide the preliminary issue raised by the respondent. Some of the relevant facts which are relevant for the purpose of deciding the said issues are as under:-

2. It is the case of the petitioner that in or about May, 2008, the respondent approached the petitioner to provide their expertise in advising them in financial aspects of identifying potential companies as targets for making investments, acquisitions, mergers or other transactions. On 8th May, 2009, the petitioner and the respondent entered into an Engagement Letter i.e. ‘Financial Advisor Agreement’. It is the case of the petitioner that respondent failed to satisfy i