JUDGMENT :

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.

4. Mr. Guru Krishnakumar, learned Senior Advocate, appearing on behalf of the Appellant has brought to our notice the said MOU in which he relies, in particular, upon Clause 12. According to him, the language of the said clause is language that leads inevitably to the conclusion that the said clause is an arbitration agreement. The word “decision” is used; the word “Mediators/Arbitrators” is used; the expression “any breaches” is used; and the “decision” is to be final and binding on all parties to the said Agreement. Based on these words, in particula