RAJALAXMI MCKENNA Vs. SANKARAN RAGHUNATHAN

JUDGEMENT

(1.) This petition has been filed to appoint a Sole Arbitrator to resolve the dispute between the petitioner and the respondents with regard to the Put Option Agreement dated 10.10.2011.

(2.) The claim of the petitioner herein is that she has invested in National Schools of Business and Management Private Limited (hereinafter referred to as 'Company') on 07.10.2011, wherein, the first respondent herein is the promoter of the Company. As a consequences of the investment of the petitioner, she was allotted five units, each unit consists of 2,500 Equity shares of Rs.10/- each and 4,750, 15% compulsorily convertible cumulative preference share of Rs.100/- each. The company runs the National Management School, Chennai.

(3.) In pursuance of the investment, the petitioner entered into a "Put Option Agreement" with the first respondent on 10.10.2011 and as per the agreement, the option was to be exercised by the petitioner through prior written notice not later than 01.11.2015 and 01.01.2016 was fixed as the Put Option Date.