Indian Kanoon - Search engine for Indian Law

EXISTENCE OF ARBITRATION CLAUSE IN THE AGREEMENT

28. The next preliminary objection raised by the Opposite Party is that since there exists an Arbitration clause in the agreement, the parties should be referred to arbitration and this commission is barred from exercising its jurisdiction. The Opposite Party has relied on Clause 51 of the Agreement, which is reproduced below for ready reference:-

"51. All or any disputes arising out of or touching upon or in relation to the terms of this Agreement including the interpretation and validity of the terms thereof and the respective rights and obligations of the parties shall be settled amicably by mutual discussion failing which the same shall be settled through arbitration. The arbitration proceedings shall be governed by the Arbitration & Conciliation Act, 1996 or any statutory amendments/modifications thereof for the time being in force. The arbitration proceedings shall be held at an appropriate location in Delhi or New Delhi by a Sole Arbitrator who shall be appointed by the Intending Seller and whose decision shall be final and binding upon the parties. The Intending Allottee Cereby confirms that he/she shall have no objection to this appointment even if the person so appointed, as the arbitrator is an employee or advocate of the Intending Seller or otherwise connected with the Intending Seller and the Intending Allottee confirms that notwithstanding such relationship/connection, the Intending Allottee shall have no doubts as to the independence or impartiality of the said Arbitrator. The Courts at Jalandhar alone and the Punjab & Harayana High Court at Chandigarh alone shall have the jurisdiction."