JUDGMENT :

SURESH KUMAR KAIT, J.

1. The present Petition is preferred by the petitioner under Section 11 (5) r/w Section (6) of the Arbitration and Conciliation Act, 1996 seeking appointment of sole Arbitrator in terms of Clause 25 of Clauses of Contract of the Agreement dated 16.11.2017 executed with respondent.

2. Petitioner-M/s SRICO Projects Pvt. Ltd. is a company registered under the Companies Act, 1956 and with MSME and respondent-Central Railside Warehouse Co. Ltd. an Enterprise of the Government of India, is also a company registered under the Companies Act, 1956.

3. According to petitioner, it has participated in the tender process issued by the respondent on 05.05.2017 for construction of 20400 MTC Warehouse along with ancillaries, internal roads, and electrical installation with temperature control facility at Fatuha, Bihar, at an estimated cost of Rs. 12,91,46,503.19/- and was awarded the said work at an estimate cost of Rs. 22,08,40,520.45/- and for this purpose, an Agreement was executed at New Delhi on 16.11.2017. In terms of the contract, petitioner was required to furnish a security deposit of 5% of the tendered value in terms of Clause 15(i) and performance security/g