BEST ENTERPRISES Vs. S ELANCHIZIAN

JUDGEMENT

(1.) THIS application has been filed under Sec. 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') to permit the applicant to operate the bank account in Current A/c. No. 3052 held with the 2nd respondent/garnishee.

(2.) ORIGINAL Application No. 845/2005 has been filed under Sec. 9 of the Act for an order of interim injunction restraining the 1 st respondent from in any manner either by himself or through his agents, servants or any one claiming through him from interfering with the administration and management of the firm M/s. Best Enterprises, pending disposal of Application No. 3130/ 05.

(3.) THE applicant is a partnership firm represented by its managing partner. The firm was constituted in pursuance of a partnership deed dated 7-11-1999 in which there are four partners. The firm is carrying on business of supplying of all kinds of bolts and nuts and railway track tools to various dealers. In the year 2005, a deed of codicil was executed, according to which, the Managing Partner has got 47% of share in the profit and loss and the 1st respondent has got 29% of share in the profit and loss. Due to misunderstanding and bad behaviour of 1st respondent a complaint was given against 1st respondent before the local police in May 2005. The 1st respondent on 30-5-2005 issued a notice through his counsel dissolving the firm and the 1st respondent has given a letter to the 2nd respondent to freeze the account of the firm. The 2nd respondent unilaterally on the request of the 1st respondent freezed the account and due to non-operation of bank account the firm's business has come to a standstill. Urgent steps have been taken to appoint an arbitrator and pending commencement of arbitration proceedings, the above application has been filed.