SOHAN LAL GUPTA Vs. ASHA DEVI GUPTA

JUDGEMENT

(1.) WHAT constitutes a reasonable notice by an arbitrator is the question involved in these appeals which arise out of a judgment and decree dated 1.3.1979 passed by a Division Bench of the Calcutta High Court affirming an order passed by a learned single judge setting aside an arbitration award.

(2.) THE basic fact of the matter is not in dispute. Two groups of persons - one Guptas and another Sharmas - held several properties including three firms, six limited companies, one trust and other movable and immovable assets. Both the groups had 50% shares each. THE family members of the Guptas and Sharmas Groups were interested in many or in some of the businesses and the firms . THE family tree of the Gupta Group is as under: <IMG>JUDGEMENT_524_JT7_2003Image1.jpg</IMG>

(3.) IT is not in dispute that said Shri B.J. Bhide was a chartered accountant and a tax consultant. He had been dealing with accounts and other matters for and on behalf of the firms and the companies belonging to the parties. The parties indisputably had great faith and confidence in him.