JUDGMENT

1. This is a petition filed under Section 11 (5) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') seeking reference of the disputes arising out of and in connection with the Partnership Deed dated 02.08.2009, executed between the parties to an independent arbitrator.

2. The case of the petitioner is that the petitioner and the respondent both purchased an acre of land in Gunnampalli Village, Dwaraka Tirumala Mandal, West Godavari District in the name of the partnership firm vide a Sale Deed dated 03.011.2009 and Rectification Deed dated 18.01.2010. The land was purchased to construct a factory for manufacturing cartons. It is stated that as per the Partnership Deed, the applicants share in assets and liabilities of the firm was 60% whereas the respondent's share of the assets and liabilities was to the extent of 40%. It is stated that on account of a fire incident, the factory constructed over the said plot of land was damaged. The liabilities of the firm, it is stated were discharged thereafter. It is further stated that the petitioner made several requests to respondents for dissolving the firm and for settlement of the accounts in terms