PRICOL LIMITED Vs. JOHNSON CONTROLS ENTERPRISE LTD

JUDGEMENT

(1.) APPOINTMENT of an Arbitrator under the Joint Venture Agreement dated 26th December, 2011 (for short "the JVA") by and between the parties has been sought by means of the present application.

(2.) THERE is no dispute between the parties with regard to the existence of the JVA and/or with regard to the fact that disputes and differences over the respective rights and liabilities of the parties under the JVA have surfaced. The Arbitration clause under the JVA is in the following terms: <FRM>JUDGEMENT_42_LAWS(SC)12_2014.htm</FRM>

(3.) THERE are certain facts and events which have occurred during the pendency of the present proceeding which must immediately be taken note of.