JUDGMENT :

SAUMITRA DAYAL SINGH, J.

1. Heard Sri. Rahul Agarwal, learned counsel for the applicant and Sri. Navneet Chandra Tripathi, learned counsel for the opposite party.

2. Present is an application filed under Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the ‘Act’). The application was filed on 12.07.2019 with a prayer to appoint an independent arbitrator, to adjudicate the disputes that have arisen between the parties under a written contract dated 01.03.2010 entered into between the applicant and the Chief Project Manager, Railway Electrification for the work “Design, Supply, Erection, Testing and Commissioning of 25 KV, AC, 50 Hz, Single Phase, Traction Overhead Equipments, Switching Stations, Booster Transformer Stations, LT Supply Transformer Stations and All Ancillary Equipments Madurai (Excl.)-Tuticorin- Vanchimaniyanchi-Nagercoil (Excl.) of Southern Railway” valued at Rs. 24,97,54,357/- (Rupees Twenty Four Crores Ninety Seven Lakhs Fifty Four Thousand Three Hundred Fifty Seven only).

3. Before approaching this Court, the applicant had issued the statutory notice dated 31.12.2018, invoking arbitration. Referring to Section 12(5) of th