VIJAY KUMAR MUNJAL Vs. PAWAN MUNJAL

JUDGEMENT

(1.) The petitioners have filed the present petition under Sec. 11 of the Arbitration and Conciliation Act, 1996 (hereafter 'the A&C Act'), inter alia, praying that an arbitrator be appointed, on behalf of the respondents, to adjudicate the disputes that have arisen between the parties in relation to the Family Settlement Agreement dtd. 20/5/2010 (hereafter the 'FSA') and Trade Marks and Name Agreement dtd. 20/5/2010 (hereafter the 'TMNA').

(2.) The Munjal Family, a well-known business family, comprises of family members of four brothers (since deceased) - Late Shri Dayanand Munjal, Late Shri Satyanand Munjal, Late Shri Brij Mohan Lall Munjal and Late Shri Om Prakash Munjal (hereafter the 'Munjal Brothers').

(3.) The petitioners state that the Munjal Brothers established the business of bicycle spare parts in Amritsar, India in 1944. In 1956, the Munjal Brothers commenced manufacturing key components of bicycle and established a manufacturing plant in Ludhiana. Over a period of time, the Munjal Group diversified its business in the automotive sector, manufacture of bicycles and its components, and the financial sector including other such services. The Munjal Group comprises of several operating and investment companies ('Munjal Group Companies'), Hindu Undivided Families of the members of the Four Family Groups ('Munjal HuFs'), partnerships ('Munjal Partnerships'), trusts ("Munjal Trusts") and association of persons ('Munjal AoPs'). The Munjal Group Companies, Munjal HuFs, Munjal Partnerships, Munjal Trusts and Munjal AoPs are hereafter collectively referred to as the 'Munjal Group Entities'.