MR. SURISTH TIWARY Vs. MR. PURUSHOTTAM KUMAR CHAUBEY

JUDGEMENT

(1.) Heard Sri Adarsh Kumar Tiwari, assisted by Sri Sanjeev Kumar Pandey, learned counsel for the applicant and Sri Ashish Kumar Srivastava, learned counsel for the opposite party.

(2.) The dispute primarily is with respect to the applicant and opposite party no. 1. The applicant claims to be Managing Director of Private Limited Company, namely, S.T. Constructions Pvt. Ltd., engaged in the construction work. Opposite parties No. 2, 3, 4, 5, 6, 7, 8 and 9 are associates of Amrapali Group of Companies. Whereas, opposite party no. 1 is an employee of Amrapali Group succeeded in getting letter of intent for construction project at Sector-168 NOIDA. In 2011, applicant, associate of Amrapali Group of Companies, a Joint Venture Partner, approached the Chief Managing Director of Amrapali Group with a proposal that applicant with the help of opposite party no. 1 can procure three different plots for the group from three companies. Amrapali Group and its associates agreed for acquisition of entire shareholding of the three companies in a time frame. Accordingly, share purchase agreement dated 31 March 2011 and 20 April 2011 were signed by the applicant and opposite party no. 1 in favour of associate companies which, inter alia, provided for arbitration. Governing Laws and Dispute resolution (clause-9) is extracted:

(3.) By the instant application under section 11(6) of the Arbitration and Conciliation Act, 1996 (for short 'Act 1996'), applicant seeks appointment of an arbitrator to settle the dispute as per Clause-9 of the agreement. Opposite party no. 1 and on behalf of opposite party no. 9 has filed counter affidavit stating that as per the share purchase agreement dated 31 March 2011 executed between opposite party no. 1 and applicant as the first party, opposite parties no. 2 to 6 as the second party and opposite party no. 7 as the third party. Similarly, applicant invoked arbitration clause of share purchase agreement dated 20 April 2011 executed between opposite party no. 1 and applicant as the first party, opposite parties no. 2 to 6 being second party and opposite party no. 8 as the third party.