Jagannadha Rao, J. - The question that falls for consideration in this appeal relates to the power of the Court to grant stay under Section 34 of the Arbitration Act, 1940 in cases involving allegations of fraud or allegations affecting professional reputation.

The respondent field the suit D.S. No. 580 of 1982 in the Court of the Subordinate Judge, Vijayawada for settlement of accounts of the 1st defendant firm "Sri Venkateswara Estates" and for rendition of accounts and for allotting to the respondent his share of 10 paise in the property and in the amounts that may be found due on settlement of accounts. He also alternatively claimed for dissolution of the said firm and settlement of accounts and for the appointment of a receiver. Originally there was a registered partnership deed dated 27-11-75 which is marked as Ex. B. 1 in these proceedings. The partnership was at will and consisted of 17 partners. One of the partners gave a site of 6000 square yards for the purpose of construction of a commercial complex at Vijayawada. The plaintiff owned a Share of 10 paise while the remaining shares were owned by the other partners. On 1-10-1976 the partner who gave the site for t