MAHAVIRCHAND SUYANCHAND DEODA Vs. ASHAYKUMAR BHAVARSINGH PARAKH

JUDGEMENT

(1.) Appellants herein are raising exception to the order passed by Arbitral Tribunal on 11.05.2011.

(2.) Appellants and respondents are the partners of a partnership firm named and styled as 'M/s Paras' and dealing in the business of sale of clothes manufactured by Raymond Mills on retail basis. There arose certain differences between the partners, which led to filing of an application by respondent no.1 herein, being Arbitration Application No.03 of 2008, seeking appointment of Arbitrator to resolve disputes and differences between the parties. Considering the arbitration agreement incorporated in the Deed of Partnership, this Court directed appointment of panel of arbitrators. The panel consists of two Chartered Accountants each one suggested by either of the parties and a Presiding Arbitrator is appointed by this Court from amongst the names of retired High Court Judges suggested by both the parties. Shri Justice N.P.Chapalgaonkar, retired Judge of this Court, is appointed as Presiding Arbitrator of the arbitral tribunal. The Arbitral Tribunal entered into arbitration and Respondent No.1 presented statement of claim before the Arbitral Tribunal wherein he has made following prayers:

(3.) Written Statement has been presented by the appellants herein and other respondents controverting the claim lodged by Respondent No.1 herein and a prayer is made for rejection of the claim. The procedure in respect of presentation of claim and filing of written statement is completed as long back in June 2010.