R.F. Nariman, J. - (1.) Leave granted.
(2.) The present dispute arises out of a Memorandum of Understanding (MoU)/Agreement executed between the parties dated 08.12.2005 for sale and purchase of shares of a Company called M/s Mancherial Cement Company Private Limited of which all the parties are Directors. The bone of contention in the present proceedings is as to whether Clause 12 of the said Agreement can be stated to be an arbitration clause.
(3.) Heard the learned Senior Counsel appearing for the parties at considerable length.;