JUDGMENT :

1. The petitioner has filed the present application under Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as “the 1996 Act”) for reference of a dispute which has arisen between the parties in connection with a Memorandum of Understanding (in brief, the “MOU”) and connected Joint Venture Agreement (for short, “JVA”), both dated February 3, 2014.

2. As per Clause 16 of the MOU, both parties shall make efforts to settle the disputes or differences amicably if any. If disputes are not resolved through amicable settlement, the same shall be referred to the sole arbitrator mutually selected by both the parties. The decision of the arbitrator shall be final and binding on both the parties. Arbitration proceeding shall be conducted in accordance with the 1996 Act (the year wrongly mentioned in the agreement as “1998”) and the venues of arbitration shall be in Kolkata.

3. There is no contention in principle that disputes, which are otherwise arbitrable, have arisen between the parties within the purview of the arbitration clause. However, the respondents contend that the arbitration clause in the JVA dated February 3, 2014 is no longer existent in v