JUDGMENT 1. The petitioner, who has extended certain financial assistance to the respondents under the Loan and Security Agreement executed in the month of June 2020, has sought for appointment of a Sole Arbitrator and for conduct of the proceedings at the Arbitration and Conciliation Centre (Domestic and International), Bengaluru. The loan agreement contemplates resolution of the disputes between the parties in accordance with the Arbitration and Conciliation Act, 1996 and the Arbitration and Conciliation Centre Rules, 2012. The learned counsel for the petitioner submits that the respondents have defaulted in paying the loan and as such, notice for commencement of arbitral proceedings is issued on 15/1/2022. The records also indicate that the respondents, though served with the notice of the present petition, have chosen to remain absent. The necessary conditions for exercise of jurisdiction under Sec. 11(5) of the Arbitration and Conciliation Act, 1996 are satisfied. As requested by the learned counsel for the petitioner, a retired District Judge must be appointed as the Sole Arbitrator. Hence, the following: ORDER [a] The petition is allowed. [b] Shri M. K. Sripathi, a retired District Judge, Address: No.417/1, (Upstairs), 12th 'A' Main, Sector A III Phase, Yelahanka Newtown, Bengaluru - 560 064, is appointed as the Sole Arbitrator to enter reference of the dispute between the petitioner and the respondents and conduct the proceeding at the Arbitration and Conciliation Centre (Domestic and International), Bengaluru according to the Rules governing the Arbitration and Conciliation Centre (Domestic and International), Bengaluru. [c] The Registry is directed to communicate this order [by E-mail] to the Arbitration and Conciliation Centre (Domestic and International), Bengaluru and also to Shri M. K. Sripathi, a retired District Judge, as required under the Appointment of Arbitrators by the Chief Justice of Karnataka High Court Scheme, 1996.