JUDGMENT

M. Jagannadha Rao, J.-This is an application filed under sub-clauses (2), (6), (10) and (12) of Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter called the Act). The application is made to the Chief Justice of India and after the due nomination, has been placed before me.

2. The brief facts as set out in the petition, to the extent necessary for the purpose of this application, are as follows. The petitioner is a company with its registered office at Les Cascades, Port Luis Republic of Mauritius. The respondent is the promoter and Managing Director of M/s. C.M.M. Ltd., Mumbai. The petitioner entered into two agreements both dated 15.8.1995 with the respondent under which it was stated that the petitioner had agreed to subscribe to a private placement of two lots of 85,000 equity shares (each agreement comprising one lot of 85,000 equity shares, thereby aggregating to 1,70,000 shares) of C.M.M. Ltd. The shares were having face value of Rs. 10/- per share. They were agreed to be acquired by the petitioners at a premium of Rs. 20/- per share. The cumulative value amounted to Rs. 51 lakhs (1.70 lakhs Rs. 30 per share). The shares were to be held by the petit