NANDAN BIOMATRIX LTD Vs. D 1 OILS LTD

JUDGEMENT

(1.) This application under sub-sections (5) and (9) of Section 11 of the Arbitration and Conciliation Act, 1996 (for short, "the 1996 Act") has been filed with a prayer to appoint an Arbitrator in terms of clause 15.1 of the Agreement dated 10.8.04 entered into by and between the applicant and the non-applicant.

(2.) The facts leading to filing of this application may be briefly noticed.

(3.) The applicant is inter alia engaged in the business of seed cloning and production, nursery development and propagation, plantation management and maintenance and the cultivation of medicinal plants. On 10.8.04 the applicant and the non-applicant entered into seed Suppl ly agreement (Suppl ly Agreement) through which the applicant agreed to establish nurseries and prepare seedling (seed) catering to the requirement of non-applicant. According to the said Agreement the non-applicant promised to make an investment of Rs.299.35 lakhs with the applicant. The Suppl ly Agreement inter alia contained an arbitration clause 15.1 which reads as under :