2026 (1) TMI 1597

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.... 2. Perusal of the said Contract indicates arbitration clause contains following clause for dispute settlement: "DISPUTE SETTLEMENT: This article contains the entire agreement between the parties on the settlement of any dispute, controversy, claims or difference of any kind that may arise between them (Dispute), including, without limitation, any dispute over the existence, validity, interpretation, meaning, breach or termination of this Agreement or any provision hereof or about the rights, remedies or obligations of the parties hereunder and their exercise or performance. The parties agree to settle and resolve all disputes only in the manner provided for settlement in this article. A party believing that a ....

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.... arbitration shall be Mumbai. Dispute shall be settled vide three arbitrators seat i.e one appointed by Seller, one appointed by the Buyer and the third arbitrator mutually appointed by the first and the second arbitrator." 3. While this Court would have gone ahead with the constitution of the Arbitral Tribunal in view of the clause in the Sale and Purchase Contract dated 24 June 2024, the learned counsel appearing for the Respondent submits that there are numerous other Agreements/Contracts executed between the parties, which have also given rise to disputes and differences. He therefore submits that the Applicant cannot be permitted to seek constitution of Arbitral Tribunal selectively in respect of Sale and Purchase Contract dated 24 ....