MUKESH H MEHTA Vs. HARENDRA H MEHTA

JUDGEMENT

(1.) THIS is a petition under section 5 of Foreign Awards (Recognition and Enforcement) Act, 1961 (hereinafter called as Act of 1961) for enforcement of the award dated 31-10-1990. The enforcement thereof is opposed by the respondents.

(2.) THE petitioner Nos. 1 and 2 are husband and wife. Respondent Nos. 1 and 2 herein are husband and wife. All of them are Non Resident Indians (NRI) and were residing in USA (United States of America ). They carried on jointly several businesses in India and in USA. The businesses were carried on through the Agency of partnership firm, Private Limited Companies, association of persons and Private Trusts. Various properties came to be acquired.

(3.) THE disputes arose between them prior to October, 1989. It was decided that the same be referred for the arbitration of elder brother of petitioner No. 1 and respondent No. 1 for the purpose of dividing their joint businesses and properties in India and USA. The appointment was made by letter called "first submission agreement". Arbitration agreement came to be entered into between the parties on 17-11-1989 called "second submission agreement".