SUDHIR BHASIN Vs. BABU RAM GUPTA

JUDGEMENT

(1.) The present petitioner, Sudhir Bhasin, has alleged that he, Babu Ram Gupta, respondent No. 1 and Jagatri Lal Bhasin, respondent No. 4 are the partners of the firm constituted under the name and style of Sitapur Theatres with its head office at Delhi. The partnership deed was executed on 19-11-1965. Clause 25 of this deed contains a provision for referring the disputes to arbitration .

(2.) Disputes arose between the parties. The present petitioner made an application under section 20 of the Arbitration Act for referring these disputes to arbitration. The said application came up before M. S. Joshi, J., who allowed the same and referred the disputes to the sole arbitration of a Retired Judge of the Allahabad High Court.

(3.) Along with the main petition, Sudhir Bhasin, also moved an application for the appointment of a Receiver as he apprehended that Babu Ram Gupta, respondent No. 1, would misappropriate the partnership property. Vide order dated 30-11-1976, the petitioner himself was appointed as a Receiver of Laxmi Talkies, Sitapur. Aggrieved from this order, Babu Ram Gupta filed an appeal [F.A.O. (OS) 50 of 1976] before a Division Bench. In this appeal a settlement was arrived at between the parties about the appointment of the receiver and the allied matters. Based on the various undertakings given by the contemner, the following consent order was passed by the Bench on 10-5-1977 :