JUDGMENT :

Shekhar B. Saraf, J.

1. The petitioner, East Indian Minerals Limited, has filed the instant application [being A.P. No. 677 of 2022] praying for appointment of a presiding arbitrator in the position of the erstwhile arbitrator, Late Justice R.N. Ray, who expired during the subsistence of the ongoing arbitration proceedings. Consequent to the failure of the arbitrators of the arbitral tribunal to appoint a presiding arbitrator, the petitioner prays for termination of the mandate of the expired arbitrator and appointment of a presiding arbitrator under Section 14 and 15 read with Section 11 of the Arbitration and Conciliation Act, 1996 [hereinafter referred to as ‘the Act’].

2. The relevant facts of the matter are as follows:

a) The respondent no. 1 and 2 executed an MOU for formation of Special Purpose Vehicle to carry out mining operations at Thakurani and Roida mines, Barbil and other freehold areas of Orissa. Thereafter, the petitioner being a Joint-Venture Company and the respondent no. 1, being a company holding iron mines under lease from the Government of Orissa, entered into an agreement on October 4, 1993 for a period of 20 years for setting up crushing and processin