ORDER :

This application is filed under Section 11(5) and (6) of the Arbitration and Conciliation Act, 1996 (for short ‘the Act’), seeking to appoint any person as sole arbitrator as per the arbitration agreement dated 30.09.2009, and the first and second supplementary agreements dated 13.03.2010 and 14.03.2011, entered into between the parties.

2. As per the arbitration application, the 1st applicant is M/s Shakthi Concrete Industries Limited and the 2nd applicant is Mr. Kanagiri Gyam Sagar, who is the Managing Director of the 1st applicant – company. The case of the 2nd applicant is that, he along with his family members, promoted and incorporated the 1st applicant – company. The 3rd respondent is M/s SCIL Infracon Private Limited and it is represented through its Principal Officer.

3. The 1st respondent is M/s HBL Powers Systems Limited and the 2nd respondent is the Chairman and the Director of the 1st respondent – company. The 4th respondent is the person, who purchased 500 shares of 3rd respondent – company, from the 1st respondent – company.

4. In the affidavit filed in support of the arbitration application it is stated that the 1st applicant was holding 49,50,000 equity shares