( 1 ) BY this petition, the petitioner a wholly owned Government company seeks declaration about existence of a valid arbitration agreement between the petitioner, assignee under the bill of lading and respondent No. 1 and valid reference of disputes between the parties to the two joint arbitrators-respondent Nos. 2 and 3 and in the alternative seeks reference of the disputes to the arbitrators already appointed.

( 2 ) 1 The petitioner themselves claims that petitioner company is authorised agent of Government of India in regard to handling and distribution of imported fertilizers. The respondent is a common carrier by sea and is the owner of the merchant ship "jagrahat . 2. 2 Under a Charter Party Agreement dated April 22, 1992 between the President of India and the Respondent company-The Great Eastern Shipping Co. Ltd. , the respondent company undertook that its vessel "m. v. JAGRAHAT would call at one or two safe ports in U. S. , Gulf, part of Tampa and there it could load full and comp lete cargo of 33,000 M. t. at owner s option Bulk Di-Ammonium Phosphate all under deck and carry the same to one or two safe ports, safe anchorages, West or East Coast of India