JUDGMENT

Passed on 14th October, 2022

The applicant has filed this application u/s. 11(6) of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as the Act of 1996)seeking the appointment of an independent Arbitrator in order to resolve the dispute between the parties.

The facts of the case, as pleaded in this application are as under :

1. The applicant is a partnership firm engaged in the business of construction and development. Mr. Shailendra Agrawal is the partner of the applicant firm. The respondents are the owners of land bearing Survey No.108/3/3 area 0.405 Hect. and Survey No.108/8 area 0.177 Hect., total area 0.582 Hect. situated at Village Chitawad, Tehsil and District Indore. For the development of the above lands, the respondents engaged the applicant by way of an agreement dated 27.9.2010. As per the terms and conditions of the agreement, the respondents were required to provide the land diverted and to get the layout sanctioned. It was also agreed between the parties that after development and construction the developed areas would be divided between the parties in the ratio of 60:40, which means the applicant would get 60% of the area and the respondents w