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7.3 A suggestion is also made by the counsel for the parties that before the learned arbitrator enters upon reference, the matter be referred to a mediator under the aegis of the Delhi High Court Mediation and Conciliation Centre [hereafter referred to as the "Centre"] and that the arbitration proceedings should get triggered only if the mediator is not able to cobble up a settlement agreement within a defined timeline.
8. Thus, having regard to the submissions made by the counsel for the parties, albeit, based on instructions, the following directions are issued:
(i) The parties and their respective counsel will appear before the Centre.
The Centre will appoint a senior mediator in the matter, who is well- conversant with commercial law.
(ii) The mediator will have her/his first meeting via video-conferencing on 27.08.2020 at 03:00 P.M. In the event, for some reason, the said date is not convenient to the mediator, the mediator will fix another date, with the consent of the parties and/or their respective counsel, which is proximate to the date given hereinabove. The mediator shall engage in this process up- until 24.09.2020. In case the mediator is not able to forge a settlement by that date, the arbitrator appointed by this Court will enter upon reference.
(iii) Hon'ble Mr. Justice R.V. Easwar, former Judge, of this Court is appointed as an arbitrator in the matter.
(iv) In case the parties need further time beyond 24.09.2020 to forge a settlement, they would submit a joint application, in writing, both, to the mediator as well as the learned arbitrator and, only in such an eventuality, the learned arbitrator will defer entering upon reference post the date given hereinabove i.e. 24.09.2020.
(vii) The learned arbitrator will be paid his fee in terms of the provisions of the Fourth Schedule appended to the 1996 Act. The learned arbitrator, before entering upon reference, will file a declaration in terms of Section 12 and other attendant applicable provisions of the 1996 Act.
9. Mr. Rao, on instructions of Mr. Deepak Vohra, says that the court fees amounting to Rs. 5, 42,124/- has been paid and given the fact that the suit is disposed of on the very first date, this Court may consider refund of the court-fee.