1. This application under S.11 (6) of the Arbitration and Conciliation Act, 1996 (the Arbitration Act, for brevity) is filed by M/s.Krebs Bio Chemicals and Industries Limited (hereafter called, KREBS), Hyderabad, for appointment of sole arbitrator of resolving dispute between KREBS and Nannapaneni Venkatrao Co - operative Sugars Limited, Jampani (hereafter called, Society), a society registered under the Andhra Pradesh Co - operative Societies Registration Act, 1964 (Co - operative Act, for brevity), which owns a sugar factory at Jampani, Vemuru Mandal in Guntur District. The dispute between parties is in relation to Sale and Purchase Agreement (SPA), whereby and whereunder Society agreed to sell assets of sugar factory for a sum of Rs. 18.09 crores (Rupees eighteen crore and nine lakhs only). Clause 25 of SPA, dated