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"DISPUTE Resolution:
FAO (OS) 307/2016 &40/2017 Page 3
20.1 If any dispute, controversy or claim between
the parties arises out of or in connection with
this Lease Deed, including the breach,
termination or invalidity thereof ("Dispute"),
the parties shall Lease (sic.) all reasonable
endeavors to negotiate with a view to
resolving the Dispute amicably. The
complaining party may serve a written notice
of such dispute ("Dispute Notice") to the
other party and if the parties are unable to
resolve the Dispute amicably within
30(thirty) days of service of the Dispute
Notice, then the Dispute shall be settled by
arbitration under the Indian Arbitration and
Conciliation Act, 1996 by three arbitrators,
with three arbitrators (sic.) with one
arbitrator each being appointed by the
Parties individually, and such two
arbitrators jointly appointing the third
arbitrator who shall chair the arbitration
proceedings. The parties agree to a fast track
arbitration which is to be disposed within 60
(sixty) days from the date of reference. The
venue of arbitration shall be New Delhi and
the proceedings shall be conducted in the
English language. Each party shall bear its
own cost of arbitration. The award of the
arbitrators shall be substantiated in writing
and shall be final and binding.