Rajiv Shakdher, J.

Arb. P. 534/2013 & IA No. 18102/2014 (u/s 151 CPC)

1. This is a petition filed under Section 11(6) of the Arbitration & Conciliation Act, 1996 (in short the Act), seeking a direction for appointment of an arbitrator, albeit on behalf of the respondent.

1.1 The petitioner, relies upon clause 13 (b) ii) of ISDA (International Swaps and Derivatives Association) Master Agreement dated 03.07.2006 [hereafter referred to as the Master Agreement], as modified by the accompanying schedule of even date. It may be important to note at this juncture, though the Master Agreement is dated 03.07.2006, it was signed and sealed on behalf of the respondent on 22.04.2006, and similarly, on behalf of the petitioner, on 07.06.2006. There is no dispute with regard to this aspect of the matter.

1.2 What is in dispute, in so far as the respondent is concerned, is the extension of the arbitration clause to the transaction in issue, which is referred to as USD CHF Currency Swap transaction no. 1040 dated 18.07.2007 (hereinafter referred to as the original transaction). According to the respondent, the transaction, in issue is a stand-alone bilateral arrangement between the parti