JUDGMENT :

I have heard the learned counsel for the applicant, and the learned Senior Counsel for the respondent at length. I proceed to dispose of the present Arbitration Application, preferred by the applicant, under Section 11(6) of the Arbitration and Conciliation Act, 1996 (the Act), to seek appointment of a sole arbitrator.

2. The applicant is a company engaged in manufacturing and sale of plastic molded furniture, aluminum composite panel and mattresses. The applicant purchased a Standard Fire and Special Perils Policy, having Policy No. 34080011180100000205, from the respondent-Insurance Company, covering his factory assets. The total insured value was Rs.58,25,00,000/-. The said policy covered the period from 07.10.2018 to 06.10.2019. The applicant paid a onetime premium of Rs.6,71,978/- including GST. In Clause 13 of this Standard Fire and Special Perils Policy, there is an arbitration clause, which provides that in case any dispute or difference arises, as to the quantum to be paid under the said policy, such difference shall, independently of all other questions, be r