J U D G M E N T

CHANDRA DHARI SINGH, J.

1. The present petition has been filed on behalf of the petitioner under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as “the Act”) in terms of the Arbitration Clause incorporated in the Standard Fire and Special Perils Policy bearing No. 0401001117P110869962 valid from the period 1st November 2017 to 31st October 2018.

FACTUAL MATRIX

2. Petitioner is a private limited company incorporated under the provisions of the Companies Act, 1956 whereas the Respondent is a Public Sector Enterprise providing general insurance services.

3. On 13th June, 2018, a fire broke out in the premises of the Petitioner due to an electric short circuit, which caused considerable loss and damage to the Petitioner, which was claimed as Rs. 11,47,67,511/-. Accordingly, the Respondent appointed a surveyor to assess the damage caused and the claim applicable.

4. On 15th June, 2018, the Surveyor began the process of survey of claim and visited the Petitioner's premises during which the Surveyor and the Respondent sought various documents/information from the Petitioner to substantiate the Claim.

5. On 9th July, 2018, a second surveyor wa