MADETI KANAKA RAO Vs. YELLAPU KUMAR

JUDGEMENT

(1.) This is an application filed under Sec. 11 (5) and (6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') for appointment of an independent arbitrator for adjudication of disputes between the petitioners and the respondents arising out of and in connection with Contract/Development Agreement dtd. 30/7/2020.

(2.) Counsel for the parties do not deny that clause 34 of the said Agreement envisages settlement of disputes through the mechanism of arbitration.

(3.) For facility of reference Clause 34 of the Agreement is reproduced hereunder: