Krishna Rao, J.:

1. The defendant has filed the present application being G.A. No. 3 of 2022 in C.S. No. 57 of 2022 under Section 8 of the Arbitration and Conciliation Act, 1996 for referring the parties to the instant suit to arbitration in terms of Clause 26 of the General Terms and Conditions entered between the parties

2. The plaintiffs have filed the suit against the defendant for recovery of a sum of Rs. 62,99,393/- along with interest. The defendant is the subsidiary of the Bengal Ambuja Housing Development Limited, who is a joint venture company of the West Bengal Housing Board and Ambuja Neotia Group. After going through the advertisements made by the defendant, the plaintiffs became interested in the said project and contacted the defendant’s representative. On 24 th April, 2016, the plaintiffs have jointly applied for allotment of Apartment No. 07 in the project of the defendant having built up area of 4046 Sq. Ft. Type - G on the 22 nd floor of Tower No.1.

3. The defendant has provided an applica