1. This petition under Section 11 of the Arbitration and Conciliation Act, 1996 (‘Act’) seeks appointment of an Arbitrator in respect of a claim made by the Petitioner, a partnership firm, under a Standard Fires and Special Perils Policy issued by the Respondent Oriental Insurance Company Limited (‘OICL’) for a sum of Rs.2.75 crores for the period 1st May 2013 to 30th April 2014.

2. There was a serious fire in the factory of the Petitioner at around 10.30 pm on 11th July 2013 causing damage to its property, plant and machinery and stocks. The Petitioner submitted a claim to OICL on 15th August 2013 for a loss aggregating to Rs.2,36,36,380. By a letter dated 28th March 2014, OICL informed the Petitioner that the claim of the Petitioner has been approved to the extent of Rs.1.54 crores. Along with the letter a blank discharge voucher was sent for signature by way of acceptance of the said amount in full and final settlement of the Petitioner's claim. It was stated that if the discharge voucher was not signed, the amount would not be released. On 9th April 2014, the Petitioner sent an email conveying that the sum of Rs.1.54 crores was not acceptable. On 20th May 2014, another