JUDGMENT :

1. Heard Mr. S. Mitra, learned counsel for the petitioners and Mr. R.J. Das, learned counsel for the respondent No.1.

2. This is an application under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ‘the 1996 Act’) for appointment of an Arbitrator, inasmuch as, in terms of the Arbitration Clause executed between the parties, an Arbitral Tribunal made up of 3 Arbitrators were to be constituted.

3. The petitioners case is that the petitioners have appointed an Arbitrator. However, despite receipt of the Arbitration Notice from the petitioners by the respondents, the respondents have till date not appointed their Arbitrator. The claim of the petitioners in this case is only with respect to the interest on the amount that has been paid by them for their apartment, from 21.12.2020 till handing over possession of the apartment.

4. The facts of the case is that the petitioners and the respondents executed an agreement for sale of an apartment on 24.01.2017 and as per the terms and conditions of the said agreement, the respondent No.1 was to deliver possession of the apartment on 20.12.2020. The petitioners had accordingly paid 95% of the total