ORDER :

This application, under Section 11(5) & (6) of the Arbitration and Conciliation Act, 1996 (for short “the Act”) read with Para (3)(i)(d) of Scheme of Appointment of Arbitrators, 1996, is filed by the applicants seeking to appoint sole Arbitrator to adjudicate the differences and disputes between the applicants and the respondent.

2. Heard the submissions of Sri Prabhakar Sripada, learned Senior Counsel appearing for the applicants, Sri Vijay B.Paropakari, learned counsel for the respondents and perused the record.

3. The case of the applicants, in brief is that, the respondents entered into a development agreement-cum-General Power of Attorney with the applicants on 07.12.2012 in respect of premises bearing Municipal No.4-2-80 admeasuring 271 Sq. Yards situated at Old Bhoiguda, Secunderabad (hereinafter referred as “Schedule A property”) and the same was registered vide document No.22/2013 in the office of Sub-Registrar, Doodhbowli. The respondents also entered into another Development Agreement-cum-General Power of Attorney with the applicants and some of their relatives on the same day i.e, 07.12.2012 in respect of premises bearing Municipal Nos.4-2-75 to 77 admeasuring 585