VINOD SHARMA Vs. MOHD. SHARIEF

JUDGEMENT

(1.) The present petition has been filed under Sec. 11(6) of the Jammu and Kashmir Arbitration and Conciliation Act, 1997 for reference of the disputes mentioned in the petition for arbitration to an independent arbitrator.

(2.) It is averred that the petitioner was incorporated as a partner along with the respondent in the business of selling of LPG Gas and the partnership deed executed between them, which was registered before the learned Sub- Registrar, 2nd Additional Munsiff, Jammu on 26-4-2011.

(3.) It is further averred by the petitioner that he had invested a capital of Rs. 20,00,000.00 (Rupees Twenty Lacs) in the partnership business with the understanding that the profits would be shared in equal proportion by both the partners but subsequently it is averred that the respondent went back on his promise and stopped sharing the profits of the business and also filed a suit for permanent prohibitory injunction, restraining the petitioner from interfering into the business of Gas Agency, which is run in the name and style of M/s. Shaheed Mohd. Fareed Gas Agency, Nowshera).