JUDGMENT

R.V.Raveendran, J. —

Leave granted. Heard.

2. The appellant filed an application under section 11 of the Arbitration & Conciliation Act, 1996 (‘Act’ for short) for appointment of an arbitrator. The averments made in the said application in brief were as under:

2.1) On 7.10.2006 the appellant requested the respondent to grant a long term lease in respect of two Tea estates (Chandmari Tea Estate and Burahapahar Tea Estate). A lease deed dated 21.12.2006 was executed between the respondent and appellant under which respondent granted a lease to the appellant for a term of 30 years in regard to the said two Tea estates with all appurtenances. Clause 35 of the said lease deed provided for settlement of disputes between the parties by arbitration. As the estates were hypothecated to United Bank of India, on 27.12.2006, the respondent requested the said bank for issue of a no objection certificate for entering into a long term lease. The Bank sent a reply dated 17.7.2007, stating that it would issue a no objection certificate for the lease, if the entire balance amount due to it was deposited by 14.8.2007.

2.2) Prior to the execution of the said lease deed, on 29.11.2006 the re