(1.) The revision has been filed against the judgment and decree in unnumbered Arb.O.P in SR. No. 2700/ dated 24.03.2006 whereby the application filed by the petitioners has been dismissed as not maintainable.
(2.) The brief facts of the case are as follows:
(3.) Thereafter, an application was filed on 24.03.2006 before the District Court, Madurai seeking to set aside the arbitration award. However the said application was dismissed by the Court below by holding that since Section 5 of the Limitation Act, 1963 is not applicable to the arbitration proceedings and the petition having been filed beyond the statutory period the same is not maintainable. Challenging the same, the present revision has been filed.