INDIA INDUSTRIAL GROWTH FUND LIMITED Vs. NESANURU DORASWAMY

JUDGEMENT

(1.) Heard learned Counsel for the parties.

(2.) The instant petition is filed under Section 11(6) and 11(12)(a) of the Arbitration and Conciliation Act, 1996 read with the Appointment of Arbitrators by the Chief Justice of India Scheme, 1996 for appointment of Presiding Arbitrator, in view of the disputes having arisen between India Industrial Growth Fund Limited (hereinafter referred to as "the Petitioner") and Nesanuru Doraswamy and Ors., (hereinafter referred to as "the Respondents") in relation to the Share Subscription Agreement (hereinafter referred to as "SSA") executed between them on 5th June, 2008 and also in terms of the Share Purchase Agreement dated 10th September, 2009 and the Pledge Agreement 5th June, 2008, being agreements interconnected with the Share Subscription Agreement and which can be adjudicated upon by the Arbitral Tribunal sought to be appointed.

(3.) It is not necessary to make a detailed reference to the pleadings of the parties as the parties have already agreed to nominate their respective ArbitratOrs. Therefore, this Court is now only required to nominate the third Arbitrator, who shall act as the Chairman of the Arbitral Tribunal. However, we may briefly notice the broad contours of the disputes that have arisen between the parties which led to the instant petition.