JUDGMENT :

(Prayer: Original Petition filed under Section 11(6) of Arbitration and Conciliation Act, 1996, praying to appoint an Arbitrator on behalf of the Respondent in terms of Clause 20 of the Agreement dated 31.03.2019 to adjudicate upon the disputes that have arisen between the parties in relation to the said agreement.)

1. This Original Petition has been filed for appointment of Arbitrator to resolve the dispute arose in the Joint Development Agreement. The parties are governed by the contract of Joint Development Agreement executed between them on 31.03.2019, in which clause 19 provides for reference to the arbitration.

2. As per the said agreement, the Petitioner has agreed to develop the property owned by the respondent and also agreed to construct a residential complex. The sale consideration payable to the Respondent was agreed to be 60% of the total sale proceeds of the total developed area of 1,50,000 sq.ft. to be put up in the said property by the Petitioner as defined under the Agreement. The payment of sale consideration was specifically agreed upon between the parties in clause 8 of the Agreement.

3. It is the contention of the Petitioner that they have paid a sum of