Red Fort Akbar Properties Private Limited, Hyd v. Deccan Infrastructure And Land Holdings Ltd., Hyd

HON'BLE THE ACTING CHIEF JUSTICE DILIP B. BHOSALE ARBITRATION APPLICATION No. 5 OF 2016 Date: 22-07-2016 Between:

Red Fort Akbar Properties Private Ltd., Rep., by its Director, Hyderabad.

... Applicant And Deccan Infrastructure & Land Holdings Limited, Hyderabad.

... Respondent HON'BLE THE ACTING CHIEF JUSTICE DILIP B. BHOSALE ARBITRATION APPLICATION No. 5 OF 2016 PC:

Heard Sri D. Prakash Reddy and Sri S. Ravi, learned Senior counsels for the parties.

By this petition under Section 11(6) of the Arbitration and Conciliation Act, 1996 (for short, "the Act") the petitioners seek appointment of arbitral tribunal in terms of Clause 19.2 of the agreement. Clause 19.2.2 provides for appointment of one Arbitrator each and the two Arbitrators so appointed shall appoint the third Arbitrator, who shall serve as the Presiding Arbitrator.

Accordingly, the petitioners have nominated Hon'ble Sri Justice Surinder Singh Nijjar, former Judge of the Supreme Court.

Sri S. Ravi, learned Senior counsel for the respondents, left it to the Court to appoint an Arbitrator on behalf of the respondents. In view thereof, I appoint Hon'ble Sri Justice Jagannadha Rao, former Judge of the Supreme Court as an Arbitrator on behalf of the respondents. It is open to both the Arbitrators to appoint a third Arbitrator to serve as Presiding Arbitrator. After composition of Arbitral Tribunal, the arbitration proceedings may be held in accordance with law. All the Arbitrators shall fix their remuneration and the estimated costs and charges of the arbitration proceedings upon deliberation and consultation with the parties. I desire that the Arbitrators shall complete the arbitration proceedings by making publication of award within the time stipulated under the Arbitration and Conciliation Act, 1996. If the Arbitrators decide to hold their meetings i n Hyderabad, they may consider to hold them at the arbitration centre in the High Court premises, 'C' Block.

The arbitration application is accordingly disposed of. _______________________ DILIP B. BHOSALE, ACJ Date: 22.07.2016 ES