JUDGMENT :

NEENA BANSAL KRISHNA, J.

1. A Petition under Section 14(1) (a) and 15(2) of the Arbitration & Conciliation Act (hereinafter referred to as “the Act”), 1996 has been filed by the petitioner for appointment of an Arbitrator.

2. It is submitted that the petitioner is a Society registered under the Societies Registration Act, 1860. The Government of India initiated a research and development programme namely "New Millennium Indian Technology Leadership Initiative” (NMITLI) in public - private partnership mode in 2000-2001. The responsibility of conceptualizing, evolving and implementing the program was assigned to the Petitioner. The scheme envisaged synergistic networking of publicly funded institutions, academia and private industry. The Petitioner received various proposals from different entities who wanted to collaborate under the NMITLI. The proposal submitted by the Respondent for the "development of chipset for wireless sensor networks based on ultra-wide band technology" (hereinafter referred to as "Project") was admitted by the petitioner who agreed to provide financial support to the Respondent in the form of a soft loan in a sum of Rs. 4,60,00,000/- for the purpose