1 Arbitration Case No. 57 of 2009. PUNJAB AND HARYANA HIGH COURT CHANDIGARH. *** Arbitration Case No. 57 of 2009. Date of decision: April 29, 2010. *** Narinder Pal Singh Versus M/S Kotak Mahindra Bank Ltd. *** Coram: Hon'ble Mr. Justice Mukul Mudgal, Chief Justice. *** 1. Whether Reporters of local papers may be allowed to see the judgment ? 2. Whether to be referred to the Reporters or not ? 3. Whether the judgment should be reported in the Digest? *** Present: Shri Abhisekh Vig, Advocate for the petitioner. Shri H.S.Hundal, Advocate, for the respondent. *** Mukul Mudgal, CJ (Oral) 1. By filing the instant petition under Section 11 (4) of the Arbitration and Conciliation Act, 1996, the petitioner has craved the indulgence of this Court for appointment of an independent person as an Arbitrator. The arbitration clause is to the following effect:- '' 10.16 Unless the same falls within the jurisdiction of the Debts Recovery Tribunal established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, any and all claims and disputes arising out of or in connection with this Agreement or its performance shall be settled by arbitration by a single Arbitrator to be appointed by the Bank. The arbitration shall be held, either in Mumbai or New Delhi or Chennai or Kolkata or in the place of execution of this Agreement, sole discretion to be exercised by the Bank at the time such arbitration is to commence, in accordance with the provisions of the Arbitration and Conciliation Act, 1996''. 2. After notice of motion, the respondent put in appearance through its counsel Shri H.S.Hundal, who stated that the respondent has no objection if the Court appoints an independent Arbitrator provided that an amount of Rs.10,000/- incurred by the respondent on appointment of earlier arbitrator 2 Arbitration Case No. 57 of 2009. is paid by the petitioner, to which the counsel for petitioner has no objection. 3. Accordingly I appoint Shri P.C.Singal, District Judge (Retired), as an arbitrator subject to payment of Rs.10,000/- within a period of four months by the petitioner to the respondent. The arbitrator shall fix his own fee. The parties through their counsel are directed to appear before the Arbitrator on September 06, 2010 or on an agreed date convenient to the parties but not later than a fortnight from September 06, 2010. 4. In the meanwhile the parties shall exchange the statement of claims and response thereto. The statement of claims be supplied to counsel for the respondent within four weeks from today and response to the statement of claims shall be supplied to the counsel for the petitioner within four weeks thereafter. The Arbitrator shall dispose of the reference not later than six months from the first date of appearance of the parties. 7. With these directions, this petition and all pending Misc. applications stand disposed of (Mukul Mudgal) April 29, 2010 Chief Justice Malik