JUDGMENT :

1. The application under sub-section (6) of Section 11 of the Arbitration and Conciliation Act, 1996, seek appointment of an Arbitrator to adjudicate the disputes that have arisen between the parties.

Heard learned counsel Dr. Abhinav Chandrachud for the applicant and Mr. Karl Tamboly for the respondent.

2. The applicant is engaged in the construction of high-rise and/or super high-rise residential, commercial and institutional buildings in Mumbai, Delhi as well as other major cities across the country. The respondent on the other hand, is engaged in the business of buying, selling, renting and operating self owned or leased real estate such as Apartment Building, dwelling units, non-residential buildings and real estate development.

The respondent floated a tender for construction and development of residential project styled as ‘Nilkanth Woods’, Phase-1 and Phase-2 at Mullabaug, Thane. The proposal submitted by the applicant outlining the price schedule of the quantities for Phase-1 and Phase-2 of the project, culminated in a contract value for construction and development of Rs.320,25,00,000/- recorded in a Letter of Award ‘LOA’ dated 20/1/2014. In furtherance thereof, pa