( 1 ) THIS is a petition under Section 11 of the Arbitration and Conciliation Act, 1996, praying for appointment of an arbitrator in accordance with the provisions of Section 11 of the said Act for adjudication and resolving the disputes arising between the parties.

( 2 ) THE petitioner has filed the present petition contending, inter alia, that a Sale and Purchase Contract was entered into between the petitioner and the respondent on 25th July, 1995 wherein, the respondent agreed to purchase 826. 234 Metric Tonnes of Shredded Scrap consisting of homogeneous Iron and Steel Scrap as per the specifications at the price mentioned in the said Contract. As per Clause D of the said Contract, the shipment was to be effected by 31st July, 1995 and as per Clause D and F of the Contract, the letter of Credit was to be established within seven dayof signing of the Contract.

( 3 ) IT is alleged that the respondent committed breach of the Contract by failing to establish Letter of Credit and also failed to take delivery of the goods. Under the aforesaid circumstances, according to the petitioner, disputes have arisen between the parties out of the aforesaid Contract and, theref