PRABHAKAR REDDY Vs. H.R. RAVICHANDRA AND ORS.

JUDGEMENT

(1.) C.M.P.No.152/2014 is filed seeking the appointment of the arbitrator to adjudicate the disputes between the petitioner and the respondents in respect of the claims arising out of the reconstitution deed of partnership, dated 23.2.2008 (Annexure-A). The petitioner claims to be the founder partner of the sixth respondent Firm and that the respondent Nos.1 and 2 are the partners and the respondent Nos.3, 4 and 5 are the legal heirs of the deceased partner, namely, late Dr.N.Venugopala Reddy. The petitioner alleges that the respondent Nos.1 to 5 are gaining and grabbing the property of the respondent No.6. The respondent Nos.1 to 5 have not been calling the meeting, have not been showing the accounts, having not been giving any share in the profits, have been acting whimsically and have thereby violated the terms and conditions of the partnership deed, dated 1.6.2006, of the final reconstitution deed of partnership and also of the provisions of the Indian Partnership Act, 1932.

(2.) The petitioner caused the issuance of two legal notices - one dated, 17.1.2014 (Annexure-C) calling upon the respondents for the meeting and the next notice, dated 12.6.2014 (Annexure-D) calling upon the respondents to give consent to the appointment of Sri. G.C.Pradeep, Advocate as the arbitrator. The respondent No.2 caused the issuance of the reply, dated 2.7.2014 (Annexure-E) denying the allegations made by the petitioner and alleging several fraudulent acts against the petitioner. The respondent No.2 refused to submit to the arbitration of Sri. G.C.Pradeep, as proposed by the petitioner's side. However, the respondent No.2 expressed his willingness to have the matter arbitrated through a retired High Court Judge.

(3.) The respondent No.4 caused the reply, dated 2.7.2014 (Annexure-F). In the said reply, the respondent No.4 has alleged that the petitioner has indulged in several criminal acts and fraudulently transferred several sites and misused the funds of the Firm for his own (petitioner's) benefit.