ORDER :

1. The petitioners are before this Court seeking for the following reliefs:

a. To appoint Hon'ble Justice Ashok B.Hinchigeri (Retd.) High Court of Karnataka, Bengaluru, having address as Apartment No.1431, Embassy Habitat, Vasanthnagar, Bengaluru-560 052 as Arbitrator to enter upon reference and pass award in the matter of disputes raised by the petitioners against the respondents for damages; as per clause 35(d) of the Joint Development Agreement dated 11.02.2011 i.e. Annexure-E.

b. to award costs and grant such other relief(s) as this Hon'ble Court deems fit and expedient in the circumstances of the case, in the interests of justice and equity.

2. The petitioners claim that they had entered into an agreement with the father of the respondent herein for joint development of the property owned by the said father in regard to which a Memorandum of Understanding dated 19.10.2007, Supplementary Memorandum of Understanding dated 26.10.2007, Second Supplementary Memorandum of Understanding dated 29.03.2010, Joint Development Agreement dated 11.02.2011 and Supplementary Joint De