JUDGMENT

V. Kameswar Rao, J. - The present petition has been filed under Section 11(5) of the Arbitration and Conciliation Act, 1996 (''Act'', for short) with the following prayers:

"In the light of the facts and circumstances stated hereinabove, it is most respectfully prayed that this Hon''ble Court may be graciously pleased to:

(a) Appoint a sole arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996, as amended till date, for the purpose of adjudicating the disputes that have arisen between the Parties under the MoD;

(b) pass such further orders as this Hon''ble Court may deem fit and proper in the facts and circumstances of the present case."

2. It is the case, as stated by the petitioner that a Company was incorporated on December 09, 1971, under the name of Asian Films Laboratories Pvt. Ltd. by the respondent No.3 and the entire amount of the paid-up capital from incorporation onwards was paid by him from his personal funds. He then distributed the shares to his family members who did not pay any consideration for the shares. Subsequently, the name of the Company was altered to its present name - ANI Media Private Limited (''ANI''/ ''Company'', for short) o