HAMARA PUMP MITHOURA HPCL PETROL PUMP THRU ITS PROP Vs. CHAIRMAN-CUM-MANAGING DIRECTOR HINDUSTAN PETROLEUM & 2 OTHER

JUDGEMENT

(1.) Heard Shri Tarun Varma, learned counsel for the petitioner and Shri Vikas Budhwar, learned counsel for the respondent Nos. 1 and 2.

(2.) The prayer made in the application is for the appointment of an Arbitrator. The further prayer raised in the application is for a direction being issued to the Arbitrator to be appointed to adopt "fast track" proceedings as contemplated under Section 29-B and to make an award in terms of the provisions of Section 29-B (4).

(3.) The fact that there does exist an arbitration agreement is not in dispute. However for the purposes of evaluating the rival contentions, it would be apposite to extract the arbitration clause which reads thus.