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21. While issuing notice in the petition for special leave to appeal preferred by the appellant, this Court by its order dated 01.08.2008 stayed the operation of the judgment and order passed by the Division Bench. Consequently, the matter did not proceed before the Sole Arbitrator named in the judgment of the Division Bench. The parties having exchanged the pleadings, we heard Mr. C.Mukund, learned Advocate in support of the appellant and Mr. Parag Tripathi, learned Senior Advocate for respondent No.1.