through negotiations and in the event of failure of dispute resolution by negotiations, the dispute shall be referred to Arbitration. Either party to this agreement can refer the dispute for resolution to a sole arbitrator or in case of disagreement in the appointment of the arbitrator to three arbitrators, of which each party shall nominate one and the third arbitrator shall be appointed by the said two arbitrators. Notwithstanding anything contained herein, if any party fails to accord consent for mutually appointing the sole arbitrator within 30 days of receipt of arbitration notice by other, aggrieved party reserve its right to invoke other legal recourse available in the law such as by way of filing injunction / suit in the court of competent jurisdiction. The decision of the Arbitral Tribunal shall be final and binding on both the parties. The venue of arbitration shall be New Delhi and the Arbitration proceedings shall be conducted in accordance with provisions of the Arbitration and Conciliation Act, 1996, or any subsequent modifications thereto. The proceeding shall be in English. Each party shall bear and pay its own costs and expenses in connection with the arbitration proceedings unless the arbitrators direct otherwise. For the avoidance of doubt, the provisions of this Clause do not prevent either party from applying for an interim court order at any time.”
