JUDGMENT

Suresh Kumar Kait, J. - Present petition has been filed under Sections 11(5) & (6) of the Arbitration and Conciliation Act, 1996 seeking appointment of arbitrator to adjudicate the disputes between the parties.

2. Pertinently, petitioner is an absolute owner of the land, comprising of ground floor plus four storied building constructed thereon, located at Mouza-Raigachi, J.L. No.12, P.S. Rajarhat, Kolkata-700135.

3. According to the petitioner, respondent approached the petitioner for allowing them to use the property mentioned above to run a hotel under the brand name of "OYO HOTELS" or "OYO TOWNHOUSE". A meeting was held between the parties wherein respondent proposed that the petitioner would be required to pay to respondent Rs.38,50,000/- on account of fittings fixtures, decorative items as per standard of OYO apart from payment of Rs.8,50,000/- towards design consultancy. Upon such payment, respondent would enter into a lease agreement and shall pay a sum of Rs.8,85,000/- per month once the business commences. It was agreed that parties would bear the cost of registration and a lock-in-period of 7 years.

4. Besides, petitioner also claims to have handed over all the relev