JUDGMENT :

1. In this petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996, the Karamsad Urban Cooperative Bank Ltd. (in liquidation) has approached this Court with a prayer that an independent and impartial person be appointed as a sole arbitrator to decide the dispute between the parties.

2. Facts in brief are that the petitioner bank owned certain buildings which they wanted to give on rent. The respondent no.2 – Post Master invited tenders on 25.04.1969 for requirement of accommodation at Karamsad Village for a post office including a residential house for the post master. The petitioner was one of the bidders. The bid of the petitioner was found acceptable and therefore, a lease agreement was entered into between the petitioner-bank and the Senior Superintendent of Post, Kheda Division, Nadiad, (now Anand). The lease agreement commenced from 01.07.1969 with a monthly rent of Rs.200/- for a period of five years expiring on 30.06.1974.

3. The case of the bank is that on 05.03.1974 before the expiry of lease, the petitioners demanded increase of rent