1. Applicant-Ansal Properties and Infrastructure Ltd., a company registered under Companies Act, 1956 has approached this court by way of the present application filed under Section 11 of the Arbitration and Conciliation Act, 1996, praying for appointment of the sole Arbitrator to adjudicate its dispute with the respondents.

2. Applicant-company signed a Memorandum of Understanding (for short-`the MoU')/agreement with Chanda Ram S/o Shri Bheru Ram on 31.8.2004. It was agreed therein that two bighas of land belonging to Chanda Ram of khasra no.42/1 in village Nahari Ka Baas of Tehsil, Jaipur would be handed over to the applicant-company, which shall develop the same 3 into a Township and in lieu thereof, a sum of Rs.80,000 was paid to said chanda Ram at the time of signing of the MoU. It was agreed that after development of the land, Chanda Ram would be given developed plot measuring 800 sq. yards per bigha of land, thus a total of 1600 sq. yards in all. Yet another MoU was executed with Chanda Ram and others of abadi land and well on 23.5.2005. Chanda Ram has also ex