By this petition filed under section 30 read with section 33 of the Arbitration Act, 1940, the petitioner seeks to challenge the interim award dated 4th December, 1985, directions dated 10th September, 1985, 25th September, 1985 and 21st October, 1985 issued by the learned arbitrator.

2. Some of the relevant facts for the purposes of deciding this petition are as under:

Mr. Sunit Chandrakant Khatau, Kiran Chandrakant Khatau, Dilip Khatau, Abhay Khatau

L. Khatau and Kishore Khatau were co-owners of the immovable property known as Khatau Bungalow, Manav Mandir Road, Mumbai 400 006. Under the family arrangement dated 10th August, 1983, the company known as Khatau Company Limited and certain other concerns were allotted to petitioners' group. In respect of the immovable property known as Khatau Bungalow, the Memorandum of Understanding dated 12th July, 1984 (for short “MOU”) was executed between Kishore Dharamsey Khatau, Dilip Dharamsey Khatau and Abhay Laxmidas Khatau (hereinafter referred to as “DMK GROUP” and Mr. Sunit Chandrakant Khatau and Kiran Chandrakant Khatau (hereinafter referred to as “CMK GROUP”). The Petitioners in this petition would be referred to as CMK gro