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Judgment
7 paragraphs · 199 wordsJyoti Singh, J
The present dispute has arisen between the parties in relation to Partnership Agreement dated 07.02.2013.
Reply has been filed by respondent No. 2 and 3 where initially an objection was taken that there is no Arbitration Agreement in existence between the parties as the said partnership agreement has not been executed between the petitioner and respondent No. 2 and 3.
Learned counsel appearing on behalf of the respondents on instructions from the respondents however fairly submits today that respondents have no objection if an Arbitrator is appointed.
With the consent of parties, the parties are referred to Delhi International Arbitration Centre (DIAC). The DIAC will appoint a sole Arbitrator to adjudicate the dispute between the parties. The parties are directed to appear before DIAC on 07.11.2019 at 2.00 PM.
The Arbitrator will give a disclosure under Section 12 before entering upon reference. The fee of the Arbitrator will be as per the Fourth Schedule of the Arbitration & Conciliation Act, 1996. The Arbitration will be conducted as per the procedure prescribed by the DIAC and under the aegis of the DIAC.
The petition is disposed of in the aforesaid terms.