M/S. WEXFORD FINANCIAL INC PANAMA vs BHARAT HEAVY ELECTRICALS LTD.

The Supreme Court, in this arbitration petition under Section 11(5) and Section 11(12) of the Arbitration and Conciliation Act, 1996, held that the petitioner, M/s. Wexford Financial Inc., is entitled to the appointment of a sole arbitrator to resolve disputes arising from a Service Provider Agreement with Bharat Heavy Electricals Ltd. The Court emphasized the need for arbitration in commercial disputes and recognized the validity of the agency fee agreement despite the project's non-materialization. The petition was allowed, leading to the appointment of an arbitrator.