CAV ORDER

In this petition, the petitioner has sought for an appointment of Sole Arbitrator as per clause 7.7 of the Lease Deed dated 22^nd June, 2018 (Annexure-A) for resolution of the dispute/differences between the parties.

2. The facts in nutshell for the purpose of adjudication of this petition are that the petitioner is a Company registered under the Companies Act, 1956 engaged in rendering services in the area of property management. The respondent floated a tender dated 13^th February, 2017 to offer the lease of the property in question and pursuant to the same, the petitioner- Company had participated in the bid and declared as successful bidder. Thereafter, the parties have entered into an agreement as per lease deed dated 22^nd June, 2018 (Annexure-A) and the schedule property was leased by the respondent to the petitioner for an initial period of 4 years 11 months. The lease of the schedule property was to be extended as per clause 2.3 of the Lease Deed dated 22^nd June, 2018 (Annexure-A). It is the case of the petitioner that the petitioner-Company exercised its option to renew the lease, for which, the respondent replied that the rent is on the lower side for commercial spa