BAID FINSERV LTD. Vs. RAMCHANDRA YADAV,

JUDGEMENT

(1.) The instant arbitration application has been submitted by the applicant-company under Sec. 11(6) of the Arbitration and Conciliation Act, 1996 (for short 'Act of 1996') seeking appointment of Sole Arbitrator to resolve/settle the dispute arose between the parties.

(2.) Learned counsel for the applicant submits that there is an arbitration clause in the loan agreement i.e. Clause 12 executed between the parties. Counsel submits that in terms of the said clause, appropriate orders be passed. Clause 12 of the loan agreement reads as under:-

(3.) Counsel for the respondents has no objection if the dispute is referred to the Sole Arbitrator.