THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY ARBITRATION APPLICATION No.32 of 2011 ORDER This arbitration application has been taken out under sub Section 6 of Section 11 of Arbitration and Conciliation Act, 1996 read with Scheme of Appointment of Arbitrators, 1996 seeking appointment of an Arbitrator for resolution of disputes between the parties arising out of the Share Purchase Agreement dated 23-3-2009. The applicant is a private limited company and it is in the business of software solutions development based on Oracle, Java, Net etc., The Share Purchase Agreement came to be entered between the applicant and the respondent and others on 23-3-2009. As per the Share Purchase Agreement, the applicant was due an amount of Rs.1,99,45,000/-. The applicant paid an amount of Rs.44 lakhs in the month of April, 2009. The balance amount of Rs.51 lakhs is to be paid in two equal instalments one in April, 2010 and another in April, 2011. According to the applicant, the respondents have not correctly projected the affairs of the company and the status of the company as projected by the respondents turned out to be incorrect. The applicant invoked the arbitration clause in the Share Purchase Agreement and issued notice on 15-5-2010 suggesting the panel of arbitrators so as to secure the consent of the respondents. The respondents issued a reply disputing the claims made by the applicant. Further correspondence went on between the parties. As respondents 4 to 14 failed to give consent for appointment of arbitrator, the applicant approached this Court seeking appointment of arbitrator. Notice to the respondents came to be ordered on 21-4-2011. Despite notice being served on respondent No.4, he did not choose to enter appearance. Respondent Nos.5 to 14 entered appearance. Respondent No.6 filed counter on behalf of respondents Nos.5 to 14. Though various contentions have been raised, the respondents reported no objection for adjudication of the disputes by an Arbitrator namely Sri Justice C.V.N. Sastry. Heard the learned counsel appearing for the parties. Since respondents 5 to 14 in paragraph 7 of the counter reported no objection for resolution of the disputes among the parties relatable to the Share Purchase Agreement by an arbitrator, I do not see any impediment in considering the application. Accordingly, the application is ordered appointing Sri C.V.N.Sastry, a retired High Court Judge, as an Arbitrator for resolution of the disputes between the parties relatable to Share Purchase Agreement dated 23-3-2009. He shall fix his own fees. ____________________________ B.SESHSSAYANA REDDY, J rkk Dated: 1-11-2011