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Judgment
9 paragraphs · 155 wordsJyoti Singh, J
Learned counsel for the parties submits that mediation has failed.
Learned counsel for the respondent however submits that the respondent has no objection to the appointment of an Arbitrator and the matter be referred to the Delhi International Arbitration Centre ('DIAC').
With the consent of the parties, the matter is referred to DIAC. The parties will appear before DIAC on 8th November, 2019 at 2:00 P.M. The DIAC will appoint an Arbitrator to adjudicate the disputes between the parties.
The Arbitration Proceedings will be held under the aegis of DIAC and as per the procedure of DIAC.
The fees of the Arbitrator will be fixed as per the Fourth Schedule to the Act.
The Learned Arbitrator shall give a disclosure under Section 12 of the Act.
Copy of this order be sent to DIAC for information.
Petition is disposed of in the above terms.