S. VAIDYANATHAN Vs. ELYSIAN LIFE SCIENCES PRIVATE LIMITED

JUDGEMENT

(1.) THIS petition has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 for appointment of a sole arbitrator to decide disputes/claims between the petitioner and respondent and in accordance with 16.3 of the conciliation agreement dated 21.10.2010.

(2.) THE petitioner is a Doctorate in Chemical Engineering from IIT Mumbai stated to have possessed thirty years of industrial experience in various Multi National Corporations and said to have held Senior Positions in various companies. The respondent company conceived upon a project to be established in the Bangalore -Mysore road which was a herbal Phyto Chemical Project and it was called Green Field Project.

(3.) IN terms of clause 5.1 of the agreement, both parties understand and agree that the Project Consultant (petitioner) may perform services for others during the term of the agreement, but he shall not engage in duplicating the same activity that has a conflict of interest with the company. The agreement was to commence from 04.10.2010 and shall continue unless and until terminated in accordance with clause 7.1 of the agreement.