JUDGMENT

Vibhu Bakhru, J. The petitioner has filed the present petition under Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter the `A&C Act'), inter alia, praying that an arbitrator be appointed to adjudicate the disputes that have arisen between the parties in connection with the agreement dated 21.11.2006 (hereinafter `the Agreement') entered into by the petitioner with the respondent (hereinafter `SDMC') for executing the works relating to "Improvement to Drainage System and Roads Ready Mix Concrete in Ward No. C-47 & 48 in the West Zone" falling under the Executive Engineer-XXIII, MC Primary School, 10 Block, Subhash Nagar, New Delhi-110027.

2. In terms of the Agreement, SDMC awarded the contract for execution of the works in question to the petitioner at a contract price of Rs.25,30,28,517/- In terms of the tender conditions, SDMC called upon the petitioner to deposit the performance security in the form of a Bank Guarantee for an amount of Rs.1,02,00,000/-, which is equivalent to 5% of the contract price. The Agreement stipulated 06.12.2006 as the commencement date and 05.12.2008 as the date of completion of the works.

3. The petitioner completed th