SURESH KUMAR KAIT
Arkas Biocon Private Limited – Appellant
Versus
Kashinath Agro Industries Private Limited – Respondent
JUDGMENT :
1. For adjudication of disputes with respondent, petitioner has filed the present petition under the provisions of Section 11(6) of the Arbitration and Conciliation Act, 1996 seeking appointment of sole Arbitrator.
2. Petitioner is a Company incorporated under the Companies Act, 1956, who had entered into a Lease Agreement dated 09.05.2018 with respondent, a private limited company, whereby Plot bearing Khasra No.292, Khata Khatuni No. 00037, Village Itara, Tehsil & District Meerut, Uttar Pradesh, along with manufacturing shed, including plant, machinery and equipment, constructed thereon, was leased to the petitioner for eleven months on a monthly rental of Rs.4,50,000/- with applicable GST.
3. According to petitioner, the said plant was taken on lease from the respondent for the purpose of manufacture of Liquid Glucose, Malto Dextrin Powder and the byproduct being cattle feed, which were to be manufactured by the petitioner from broken rice by enzymatic process. Further claimed that, in terms of the Lease Agreement dated 09.05.2018 petitioner had furnished security deposit of Rs.27,00,000/- to the respondent. However, certain disputed with regard to equipments, electricit
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