% JUDGMENT (Oral)

1. The present Petition has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 [“The Act”], seeking the appointment of an independent Sole Arbitrator for adjudication of the disputes inter se the parties, which are stated to arise from the Loan Agreement dated 29.10.2018 [“Agreement”].

2. Learned counsel appearing on behalf of Respondent No. 1 raises a preliminary objection with respect to the maintainability of the present Petition. It is contended that, since the disputes in question arose in Ghaziabad, Uttar Pradesh, this Court lacks the territorial jurisdiction to entertain the present proceedings.

3. This Court has heard learned counsel appearing on behalf of Respondent No. 1 and has perused the Agreement executed inter se the parties. A perusal of the said Agreement reveals that it was entered into at New Delhi.

4. Furthermore, Clause 13 of the Agreement expressly stipulates the mechanism for dispute resolution in the following terms:

“13. DISPUTE RESOLUTION

13.1.1 If any dispute, difference or claim arises between the Obligors and the Lender in connection with the Loan or the security or as to the interpretation, validity, implementation