ORDER :

1. Heard Mr.Ch.Krishna Reddy, M/s. Chandrasen Law Offices, learned counsel for the applicant and Mr.Sharad Sanghi, learned counsel for the respondents.

2. This application has been filed under Section 11 (6) of the Arbitration and Conciliation Act, 1996 (briefly ‘the 1996 Act’ hereinafter) for appointment of arbitrator.

3. According to the applicant, he and respondent No. 1 were promoters and directors of a company called M/s.RKR Builders and Promoters Private Limited, which was incorporated under the provisions of the Companies Act, 1956 on 09.12.2002. Principal objective of the aforesaid company was to acquire lands, develop the plots and make construction thereon. Company had purchased lands under two registered sale deeds bearing No. 9238 of 2003 dated 04.08.2003 and bearing No. 10961 of 2003 dated 05.09.2003, details of which are mentioned in paragraph No. 2 of the supporting affidavit.

4. Apart from the above two sale deeds, applicant and respondent No. 1 had also purchased land individually vide sale deeds bearing No. 9730 of 2002 dated 28.10.2002 and bearing No. 9992 of 2002 dated 28.10.2002, the details of which are mentioned in paragraph No. 3 of the supporting affida