JUDGMENT :

1. The petition seeks appointment of an arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996 to adjudicate disputes arising out of a Memorandum of Understanding (“MOU”) dated 16th June 2011.

2. The Petitioner is a company engaged in a business of construction and land development and the Respondent is a public trust registered under the provisions of the Bombay Public Trust Act, 1950. It is the case of the Petitioner that the Pimpri-Chinchwad Municipal Corporation (“PCMC”), by an agreement dated 2nd November 2007 vested certain rights in land bearing Survey No.09(Part) admeasuring approximately 2.56 Hectares at village Theargaon, Pune for a period of 30 years in the Trust. The Trust was permitted to construct a playground and run a Cricket Academy/Gymkhana providing International Standard Training and Coaching facilities to young cricket aspirants from Pimpri-Chinchwad and other adjoining areas free of cost.

3. A MOU dated 16th June 2011 was executed by and between the Respondent Trust and one Shri. Dhanraj Keshrimal Sonigara referred to as ‘Promoter’ in the MOU. In terms of MoU a special purpose entity namely ‘DV Gymkhana and Clubhouse’ (“DVGC”) was to