CHELAMATLA KRISHNA REDDY Vs. KAGITHAPURAM RAVINDER REDDY

JUDGEMENT

(1.) Heard Mr.Ch.Krishna Reddy, M/s. Chandrasen Law Offices, learned counsel for the applicant and Mr.Sharad Sanghi, learned counsel for the respondents.

(2.) This application has been filed under Sec. 11 (6) of the Arbitration and Conciliation Act, 1996 (briefly, 'the 1996 Act ', hereinafter) for appointment of arbitrator.

(3.) According to the applicant, he and respondent No.1 were promoters and directors of a company called M/s.RKR Builders and Promoters Private Limited, which was incorporated under the provisions of the Companies Act, 1956 on 9/12/2002. Principal objective of the aforesaid company was to acquire lands, develop the plots and make construction thereon. Company had purchased lands under two registered sale deeds bearing No.9238 of 2003 dtd. 4/8/2003 and bearing No.10961 of 2003 dtd. 5/9/2003, details of which are mentioned in paragraph No.2 of the supporting affidavit.