JUDGMENT :

P.C.:

1. This is an application filed under Section 11 of the Arbitration and Conciliation Act, 1996 (for short, “the Act”) whereby the applicant has prayed for appointment of an arbitral tribunal to adjudicate the disputes and differences which have arisen between the parties under the Articles of Agreement dated 29 December, 2014.

2. The relevant facts are: the applicant agreed to sell to the respondent commercial premises bearing Unit No. UGB 81 & 82, collectively admeasuring 506 sq. ft. (carpet area) equivalent to 47.00 sq. mtrs (carpet area) or thereabouts situated on the Upper Ground Floor of the building known as “Phoenix Paragon Plaza” for an amount of Rs.1,92,28,000/-. Although the respondent made some initial part payment, the balance payment was not forthcoming. The applicant, in these circumstances, made various demands as set out in paragraph 10 of the application which are stated to be by the applicant’s demand letters dated 06 June 2014, 21 June 2014, 26 June 2014, 02 July 2014, 12 July 2014, 28 October 2014, 03 December, 2014 and 24 December 2014. The re