JUDGMENT :

RAJ MOHAN SINGH, J.

1. Vide this common order, ARB Nos.160 and 161 of 2021 (O&M) are being decided. Rejoinders filed on behalf of the petitioner to the replies filed by the respondent in both the cases are taken on record.

2. Both the petitions have been preferred under Section 11(5) of the Arbitration and Conciliation Act, 1996 for appointment of an independent Arbitrator to adjudicate the dispute between the parties. Since common question of law and facts are involved, therefore, facts are being culled out from ARB No.160 of 2021.

3. In ARB No.160 of 2021, a lease deed dated 09.02.2012 was executed between the petitioner and the respondent. The petitioner had invested his amount in purchase of Unit No.MS0302 having super area of 462.77 sq. meters on the 3rd floor in the commercial building known as DLF Mega Mall located at Phase-1, DLF City, Gurgaon. Sale deed was executed on 08.07.2005. The petitioner purchased the said property in order to lease it out so as to generate rental income. Petitioner was approached by the respondent to take the property on lease. Consequently, the lease deed dated 09.02.2012 was executed between the parties. The lease was to start w.e.f. 01.0