By this appeal filed under section 37 of the Arbitration and Conciliation Act, 1996 (for short ‘Arbitration Act, 1996’), the appellants seek to challenge the order dated 31st May, 2010 passed by the learned District Judge – 1, Pune by which the learned District Judge allowed the arbitration application filed under section 34 of the Arbitration Act, 1996 by the respondents and has set aside the award dated 21st July, 2007 made by the learned sole arbitrator appointed by the parties to adjudicate upon the dispute that had arisen between the parties. By the said award, the learned sole arbitrator had awarded some of the claims made by the appellants. Some of the relevant facts for the purpose of deciding this appeal and cross objections as emerge from the pleadings and documents filed by both parties are as under:-

FACTUAL MATRIX

2. The Appellants and Respondent Nos.1 to 5 (“the Respondents”) are all members of the Malhotra family of Pune. Appellant No.1 is the father of Appellant Nos. 4 and 7 and Respondent No.1 and the grand-father of Appellant Nos. 6, 9 and 10 and Respondent Nos. 2, 3 and 5. Appellant No.3 is the brother of Appellant No.1 and is the paternal uncle of the