JUDGMENT

[VIA VIDEO CONFERENCING]

Sanjeev Narula, J. (Oral):--The background facts of the case are that the Petitioner executed a Lease Deed dated 15th December, 2017 in favour of the Respondent in respect of a property situated at Plot No. 44, Sector 44, Gurugram, Haryana-122001, for a period of 9 years with a lock-in period of 36 months, beginning from 01st November, 2017 to 31st October, 2020. The relevant clause under the said Deed, containing the arbitration agreement between the parties, reads as follows:

"All disputes and difference of whatsoever nature arising between the parties with relation to this Agreement, shall be referred to the arbitration of mutually agreed sole arbitrator. If the parties hereto fails to agree on the name of sole arbitrator, then both parties shall be entitled to appoint one arbitrator each and the two arbitrators so appointed, shall appoint the third presiding arbitrator. The seat/venue of the arbitration shall be at New Delhi and same shall be governed by the provision of the Arbitration and Conciliation Act, 1996 or any statutory modification or re-enactment thereof the time being in force. Decision of such Arbitral Tribunal shall be final and