JUDGMENT - 1. The petitioners have filed this petition for winding up the applicant company, and the petition was accepted in the ordinary course and the usual direction for notice to the company was given. When the petition came up for admission on 24th April 1968 and for directions in regard to advertisement, the parties arrived at certain Consent Terms, a copy of which has been annexed to the affidavit filed in support of the present Summons and marked A. Under the said Consent Terms, the company agreed to pay to the petitioners an aggregate sum of Rs. 1, 50, 000/- by certain instalments which were payable on the 30th day of each month. A Consent Order was passed by the Court Terms, an instalment of Rs. 25,000/- became payable on or before the 30th August 1968. The actual amount due to the petitioners was, under the said Consent Terms, left to be decided either by agreement, or by reference to the arbitration of counsel Mr. A. B. Diwan. Clauses 4 and 5 of the Consent Terms were in the following terms:-

"4. In the event of there being a default in payment of any of the aforesaid instalments mentioned in Clause (I) above on its due date irrespective of any dispute to be resolved un

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