l944 hereinafter referred to as the Act for stay of the said suit.
Arbitration is an alternative procedure for speedy adjudication of disputes between the parties and should numbermally be encouraged and parties have bound themselves to have their disputes adjudicated by arbitration, so they should be held bound by the agreement between the parties.
On 8th November, 1980 the 1st respondent had issued a numberice calling for dissolution of the firm alleging mismanagement,loss and exclusion from the management.
The learned Trial Judge after referring to the facts and the relevant decisions referred to the order sheet in this matter and observed that there is a clear record in the order sheet that the companynsel appearing for the applicant had sought adjournment specifically for filing written statement The order sheet further recorded that the matter was posted to 4th November, 1981 for arguments.
7 in the suit filed an application under Section 34 of the Arbitration Act.
In 1981, the 1st respondent filed a suit in the Court of the Civil Judge, Hubli for i dissolution of the firm and ii accounts.
10264 of 1988 From the Judgment and Order dated 26.5.1988 of the Karnataka High Court in M.F.A. No.
CIVIL APPELLATE JURISDICTION Special Leave Petition Civil No.
In the said reconstituted firm the 1st respondent had 12 paise share.
PG NO 886 K. Kulkarni and Mrs. Kiran Suri for the Petitioner.
Jagdish G. Yadwad and S. Srinivasan for the Respondents.
To appreciate the companytroversy, a few facts may be necessary.
The Judgment of the Court was delivered by SABYASACHI MUKHARJI, J. This is a petition for leave to appeal against the judgment and order of the High Court of Karnataka dated 26th of May, 1988.
On or about 18th September, 1972 a partnership firm was companystituted which included the petitioner and the respondents Nos.
On 4th November, 1981, the 9th respondent who is defendant No.
By the said judgment the High Court affirmed the order of the learned Civil Judge, Hubli.
52 of 1982.
The said firm was reconstituted in August, 1973 for a period of 25 years with one partner retiring from the first firm.
