% 03.04.2024

1. This is a petition filed under Section 11 of the Arbitration and Conciliation Act , 1996 seeking appointment of an Arbitrator to adjudicate the disputes between the parties.

2. The Arbitration Clause is contained in the Deed of Assignment dated

27.02.2008 which reads as under: “21. Arbitration- Any claim, controversy or dispute arising out of or under this Deed not settled by mutual Deed of the parties involved within 30 days after a party is provided written notice for settlement thereof, shall be referred to arbitration to a sole arbitrator jointly appointed by the parties under the Indian Arbitration and Conciliation Act of 1996. In the event the parties are unable to agree upon a sole arbitrator, the claim, controversy or dispute shall be referred to a panel of three arbitrators, one of whom shall be appointed by the Original Developer one by the Assignee Developer and the third to be appointed by the aforesaid two arbitrators. The arbitration proceedings shall be conducted in New Delhi, India and shall be governed by and construed in accordance with the laws of India. The language of the arbitration shall be English. The costs and expenses of the arb