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The Court: This is an application under Section 11 of the Arbitration and
Conciliation Act, 1996. The disputes between the parties arise out of a common
loan agreement dated 15 January, 2018.
Clause 10.4 of the agreement, inter alia, provides as follows:
“10.4 Governing Law Dispute Resolution and Arbitration
The validity, interpretation, implementation and resolution of disputes arising
out of or in connection with this Agreement shall be governed by the laws of India.
10.4.1 Arbitration
In the event of any claim, dispute or difference arising out of or in connection
with this Agreement including but not limited to the existence, validity,
performance, interpretation or, implementation or termination of this Agreement
or as the consequence of its nullity, or out of or in connection with any breach, or
alleged breach of this Agreement including an Event of Default (hereinafter
referred to as the “Dispute”) between the parties hereto, then the parties hereby
agree to refer such Dispute to arbitration to be conducted by the sole arbitrator
appointed by the Lender (“Arbitral Tribunal”).
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