(1.) The petitioners moved this Court under Provisions of Section 11 of the Arbitration and Conciliation Act, 1996, seeking appointment of an Arbitrator as per clause 21 of the agreement dated 21.11.2008 between the petitioners and the respondents to resolve disputes pending therein.
(2.) During currency of the petition, learned Senior Counsel, appearing for the parties, on instructions, made oral request with consent to refer the disputes to mediation mechanism. Accordingly, the disputes, involved therein, were referred to the mediation by order dated 01.07.2016. The disputes have been settled on intervention of the Mediator and agreement dated 03.08.2016 is duly signed by all the concerned parties as well as by the Counsel, appearing for them.
(3.) Having considered the afore-stated settlement by way of mediation, the petition is disposed of, wherein the mediation agreement shall form part of the order, which reads as under:-