INFORMATION TV PRIVATE LIMITED Vs. JITENDRA DAHYABHAI PATEL

JUDGEMENT

(1.) This hearing has been done through hybrid mode.

(2.) The present petition under Sec. 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter, '1996 Act') has been filed by the Petitioner-Information TV Pvt. Ltd. seeking appointment of an arbitrator in terms of Clause 6 of the Memorandum of Understanding (hereinafter, 'MoU') dtd. 1/5/2018. Clause 6 of the MoU reads as under:-

(3.) The crux of the dispute is that the Petitioner and the RespondentJitendra Dahyabhai Patel, had agreed, vide the said MoU, for the Respondent to operate a television channel named 'India News Gujarat'. As per the MoU, the Respondent was to invest approximately Rs.14.00 crores into a new company that was to be incorporated. Disputes arose in respect of the said MoU.