M.R.SEETHARAM Vs. K.G.VENKATESH

JUDGEMENT

(1.) This petition is filed for appointment of a sole Arbitrator for resolution of the dispute relating to Agreements dtd. 4/5/2001 and 15/10/2001. These agreements are Deed of Partnership and Agreement admitting New Partners. The petitioner and the first to third respondents are partners of the firm in terms of these two agreements, and they have agreed for resolution of all disputes by arbitration.

(2.) The dispute inter se parties is because the petitioner alleges that the property bearing Municipal No.01, measuring 81,075 square feet, Bannerghatta Main Road, Corporation Ward No.170, Ward Name - Jayanagar East, [Formerly, Sy. No.47/1A, 14/1B, 48/5B and 48/6B, Tavarekere Village, Begur Hobli, Bengaluru City [the subject property] is brought into the firm's books and therefore all the partners must have a claim. The fourth and fifth respondents, who are impleaded as respondents, are daughters of the first respondent, who have filed a suit for partition which is decided by a compromise decree. The fourth and fifth respondents would be entitled for the subject property in terms of the compromise decree. Thus, the dispute over the subject property encompasses all the parties to the proceedings.

(3.) Sri G. Krishnamurthy, the learned Senior Counsel for the petitioner, and Sri. A. Sampath, the learned counsel for the first, fourth and fifth respondents, submit that the parties have agreed for settlement, but finer aspects of the settlement have to be worked out and the parties would require the assistance of an Arbitrator to work out the differences and if necessary, to decide on the same. They also submit that Sri. M C Jayakirthi, a learned Member of the Bar from Bengaluru, could be appointed as the sole Arbitrator to enter reference of the dispute and draw necessary Award, after adjudication if required and they also submit that the arbitral proceedings could be adhoc proceedings as decided by the learned Arbitrator as regards the venue, the procedure and the cost. In the light of these unanimous submissions, the following: