JUDGMENT (Oral)

1. The present petition has been filed by the petitioner under Section 11 (6) of the Arbitration and Conciliation Act, 1996 seeking appointment of Arbitrator on behalf of respondent No.1 in terms of arbitration agreements.

2. Petitioner No.1-Bhasker Industries Private Limited, petitioner No. 2Decent Industries Private Limited are the companies incorporated under the provisions of Companies Act, 1956. Respondent No.1, National Textiles Corporation is a public sector enterprise under the Ministry of Textiles incorporated in the year 1968. Respondent No.2 is a Joint Venture Company duly incorporated under the laws of India, in which petitioners and respondent No.1 collectively hold 51% and 49% shares respectively.

3. During the course of hearing, Mr. Rajshekhar Rao, learned senior counsel appearing on behalf of petitioner has submitted that petitioner had entered into the following documents with respondent No.1:

(i) Memorandum of Understanding dated 0.6.11.2007

(ii) Undertaking Transfer Agreement dated 15.11.2007

(iii) Lease Deed dated 15.11.2007

(iv) Share Subscription and Shareholders Agreement dated 20.11.2007

4. The parties had entered into the aforesaid d