ORAL ORDER

This Civil Miscellaneous Petition is filed by the petitioner under Section 11(6) of the Arbitration and Conciliation Act, 1996 (for short 'the Act') seeking appointment of sole Arbitrator to resolve the dispute and difference between the parties in terms of Joint Development Agreement dated 17.04.2015 evidenced at Annexure-A.

2. After issuance of notice, the respondents have tendered appearance through learned counsel.

3. The petitioner is before this Court on the strength of memorandum of understanding entered into between the petitioner and respondent. The petitioner a developer has entered into joint development agreement with the respondent. The petitioner issued a notice on 05.03.2021 calling upon the respondents to repay the investment made by the petitioner on the ground that the respondent has failed to hand over possession of land. Since there was no response, the petitioner has invoked clause 11 of the joint development agreement and in the said notice evidenced at Annexure-F, the petitioner has called upon the respondent to nominate the sole arbitrator as per memorandum of understanding.

4. The respondent in the captioned petition acknowledge the existence of arb