Manmohan Singh, J.

1. Datawind Innovations Pvt. Ltd., the petitioner has filed two petitions, one being Arb. P. No. 592/2015 under Section 11 of the Arbitration and Conciliation Act, 1996 for the appointment of sole Arbitrator and another being O.M.P. (I) No. 531/2015 under Section 9 of the Arbitration and Conciliation Act, 1996 seeking various reliefs.

In O.M.P. (I) No. 531/2015 on 22nd September, 2015 the interim protection was granted restraining the respondent transferring, alienating or creating any third party interest in respect of property No. 281, TKK Road, Alwarpet, Chennai-600018 till the next date of hearing.

2. The brief facts as per petition are that the petitioner is engaged in the manufacture, marketing and distribution of Tablets, Mobile phones and accessories. The petitioner has its registered office at J- 8/1457, Opposite New Amritsar, GT Road, Amritsar, Punjab. As per the petitioner, it has a branch office which is located at 292, Jood Bagh, Kotla, Mubarakpur, New Delhi and Khasra No. 605, Near Tata Telco service station, A-block, Village Rangpuri, New Delhi-110037. The petitioner was admittedly supplying the goods to the respondents at Chennai from New Delhi.

2.1 The respondent No. 1 and respondent No. 2-4 in June, 2014 approached the petitioner and had expressed earnest desire to do business with the petitioner as its `Retail chain Partner'.

2.2 The petitioner started supplying the manufactured products to respondent No. 1 from 26th June, 2014. The petitioner was a firm beliver of non-credit business but respondents No. 2-4 along with one Mr. Ashok Gupta allured the petitioner by painting a rosy picture of respondent-Company's financial health and started the business on credit.

2.3 In the month of July, petitioner provided several goods to the respondents on credit basis. The respondents did not adhere to the due date with regards to the payments. Vide several emails dated 21st August, 2014, 1st September, 2014, 3rd September, 2014 and 12th September, 2014. The petitioner reminded the respondents of the payments to be made, whereby the liability to pay the said amount.

2.4 In September, the total amount due was Rs. 4.86 crores, of which Rs. 3.75 crores was due on 3rd September. Till 11th September, respondents paid only Rs. 80 lacs out of the due amount of Rs. 3.75 crores. In order to secure its interest, petitioner suggested to enter into a written Retail Chain Partner Agreement with respondent No. 1 enumerating the mode, time of payment and also for mechanism for settlement of disputes. Thus an Agreement dated 25th October, 2014 was signed by the parties.

2.5 The model of business as agreed between the parties was that first a purchase order was to be issued by the respondent No. 1 to petitioner seeking delivery of items; thereafter the items were dispatched by the petitioner from Delhi using services of FEDEX courier. The products delivered against a Proof of Delivery receipt. As provided in Clause 5(d) if the Agreement, the respondent No. 1 had to make payments through banking channels within 45 days from receipt on the invoice from the client.

2.6 But the respondents again defaulted in making the payments despite the aforesaid Agreement. Respondents never made payment on time and repeated extensions were sought by them. Vide email dated 13th November, 2014, the petitioner intimated the respondents about the outstanding due at the cost of repetition but it was of no avail. On 8th January, 2015, another reminder was sent by the petitioner, with total outstanding of Rs. 5.5 crores and after various communications and repeated reminders, respondents made a payment to the tune of Rs. 40 lacs approx to the petitioner in the month of January, 2015 despite the outstanding due being above Rs. 5 crore.

3. It has come on record that the respondents agreed to settle the entire account by virtue of payment vide cheque dated 27th February, 2015, bearing No. 007315, drawn on HDFC Bank payable at par at all the branches. The