DINESH JANGID Vs. LAXMI KANT JANGID

JUDGEMENT

(1.) By this application the applicant seeks to appoint independent Abitral Tribunal under Sections 11(6) of the Arbitrtion and Conciliation Act, 1996 (for short 'the Act').

(2.) It is averred by the applicant that on December 31, 2003 a partnership deed was executed by the applicant and the respondent for the purpose of running bore-well digging business. Clause 13 of the said deed that related to Arbitration, reads as under :-

(3.) After having borrowed loan from City Corporation Finance Ltd., two trucks were purchased and machineries got installed by the firm. However with mutual consent of partners the firm was dissolved on August 26, 2005. A decision was arrived at between the partners that the respondent will sell the trucks and machineries and repay outstanding loan amount. The remaining sale proceeds will thereafter be divided equally between the partners. The respondent however did not sell the trucks and machineries but started his own bore-well business and had been earning sum of Rs. two lacs per month. The applicant served notice on the respondent for doing the needful but all went in vain. Ultimately vide legal notices dated March 6. 2006 and April 8, 2006 the respondent was asked to propose the name of the Arbitrator to settle the dispute but the notices remained unresponded.