1. - This is an arbitration application under Section 11 of the Arbitration and Conciliation Act, 1996 (in short 'the Act of 1996') for appointment of the Arbitral Tribunal consisting of three Arbitrators to resolve the dispute, arising out of the Agreement dated 17.2.2010 (Anx.A).

2. Briefly stated, the facts of the case, are that in order to regulate the traffic position in Jaipur, the Jaipur Municipal Corporation (in short 'JMC') after following the procedure, entered into the development agreement dated 17.2.2010 (Anx.A) with the Applicant - a Company incorporated under the Companies Act, 1956 - for Design, Built, Finance, Operate and Transfer (i.e. DBFOT Basis) of multi-level parking spaces along with commercial development at Ramleela Maidan - Rangmanch, M.I. Road, Jaipur which contained Dispute Resolution Article 16 and further, Clause 16.3 provided for Arbitration. In the said Agreement, reference to the 'Developer' is the Applicant and the 'authority' means JMC. After fulfilling certain obligations, as referred to in Clause 4.1.1 and 4.1.2, the JMC shall have to procure for the Applicant, peaceful possession of the site, free from all encumbrances along with permis