NAVIN CHAWLA, J.

1. This petition under Section 39(2) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act) has been filed by the petitioner primarily seeking an interpretation of the fee schedule that is provided in the Fourth Schedule to the Act, introduced in the Act by way of the Arbitration and Conciliation (Amendment) Act, 2015. The Fourth Schedule is reproduced hereinunder:-

“THE FOURTH SCHEDULE

[See section 11(14)]

Sum in dispute	Model fee
Upto Rs. 5,00,000	Rs. 45,000
Above Rs. 5,00,000 and upto Rs.20,00,000	Rs. 45,000 plus 3.5 per cent. of the claim amount over and above Rs.5,00,000
Above Rs. 20,00,000 and upto Rs.1,00,00,000	Rs. 97,500 plus 3 per cent, of the claim amount over and above Rs. 20,00,000
Above Rs. 1,00,00,000 and upto Rs.10,00,00,000	Rs. 3,37,500 plus 1 per cent. of the claim amount over and above Rs. 1,00,00,000
Above Rs. 10,00,00,000 and upto Rs. 20,00,00,000	Rs. 12,37,500 plus 0.75 per cent. of the claim amount over and above
Rs.1,00,00,000