CENTURION BANK OF PUNJAB Vs. SALIG RAM SHARMA

JUDGEMENT

(1.) IN this petition order dated 4th November, 2005 passed by the learned Civil Judge (Junior Division), Solan in CMA No.288/6 of 2005 has been challenged by the petitioners. Vide this order, the learned Court below had dismissed the petitioners' application filed under Order 7 Rule 11 of the Code of Civil Procedure and Section 8 of the Arbitration and Conciliation Act, 1996.

(2.) AS this petition came up for consideration today, the learned counsel for the petitioners as well as learned counsel appearing for both the respondents have submitted before me that without going into any controversy forming the subject matter of the suit or the aforesaid application filed under Order 7 Rule 11 of the Code of Civil Procedure and Section 8 of the 1996 Act from out of which the aforesaid impugned order has arisen and also without going into any controversy relating to or arising out of the present petition, I should appoint an independent Arbitrator to adjudicate upon the disputes between the parties. The learned counsel for the respondents submits that the respondents actually admit about the existence of the arbitration agreement and, therefore, the disputes being arbitrable they are required to be referred to arbitration but only on the condition that an independent Arbitrator is appointed by me.

(3.) BASED upon the aforesaid agreement between the parties, the parties further submit that Mr. Ajay Sharma, an Advocate of this Court be appointed as the Single Member Arbitral Tribunal.