SIRAJUDDIN KASIM vs M/S PARAMOUNT INVESTMENT LTD.

The Supreme Court addressed a petition under Section 11 of the Arbitration and Conciliation Act, 1996, for the appointment of an arbitrator due to the inability of the parties to agree on one. The Court emphasized that the existence of a valid arbitration agreement is a prerequisite for invoking Section 11, and found that the disputes between the parties, stemming from a Shareholders' Agreement regarding oil and gas transactions, warranted arbitration. The Court held that the petition for the appointment of an arbitrator was justified, thereby facilitating the resolution of the disputes through arbitration.