1. By these two petitions filed under Section 34 of the Arbitration and Conciliation Act, 1996 (for short “the said Arbitration Act), the petitioners have impugned part of the arbitral award dated 17th April 2012 passed by the learned arbitrator which is adverse against the respective petitioners. By consent of the parties, both the petitions were heard together and are being disposed of by a common judgment. The petitioners in Arbitration Petition No.939 of 2012 were the original claimants in the arbitral proceedings whereas the respondents were the original respondents in the arbitral proceedings. For the sake of brevity, the original claimants are described as 'the claimants' and the original respondents are described as 'the respondents' in this judgment as they were described as such in the arbitral proceedings. Some of the relevant facts for the purpose of deciding these two petitions are as under :

2. The claimant no.1-Mrs. Veena Nalin Merchant is a widow of Mr.Nalin Khimjee Merchant and claims to be the sole legatee of the said Mr.Nalin Khimjee Merchant under a Will dated 1st December 2005. The claimant no.2-Ms.Gayatri Nalin Merchant is a daughter of the said Mr.Nalin Khimjee Merchant and the claimant no.1. The respondent no.1 is a registered partnership firm (hereinafter referred to as 'the said firm') which is carrying on the business of manufacture and trade of asafoetida i.e. hing. The respondent nos.2 to 6 are the partners of the respondent no.1. The respondent no.1 has been trading in hing under the trademarks “LG” and “LG Engine.” According to the claimants, the said trademarks were registered with the Registrar of Trademarks as early in the year 1949. Those trademarks were registered in the name of Mrs.Jevabai Khimjee. Those trademarks including other trade marks using the words “LG” and “LG Engine” were used by the respondent no.1 from time to time in its trade of hing.

3. On or about 21st November 1942, a partnership firm, as per the Deed of Partnership dated 21st November 1943, came to be constituted in the name of Messrs. Laljee Godhoo & Co. The respondent no.1 was originally founded as a Partnership firm in or around the year 1900. It is the case of the claimants that under the said Deed of Partnership, the right to use and ownership of the name, title, goodwill, trademark etc. of the said firm vested in one Jevabai Khimjee who was the mother of late Mr.Nalin Khimjee Merchant and late Mr. Ajit Khimjee Merchant. The said Jevabai Khimjee died some time in the year 1983. It is the case of the claimants that by her last Will and Testament dated 10th February 1982, the said Jevabai Khimjee bequeathed her entire right, title and interest in the name, title, goodwill, trademarks, etc. of the said firm equally to her sons Mr.Nalin Khimjee Merchant and Mr.Ajit Khimjee Merchant (husband of respondent no.2 and father of respondent no.3). It is the case of the claimants that Mr.Nalin Khimjee Merchant and Mr.Ajit Khimjee Merchant each became entitled to 50% share in name, title, goodwill, trademarks etc. of the said firm. It is also the case of the claimants that the equal half share of Mr.Nalin Khimjee Merchant and Mr.Ajit Khimjee Merchant was agreed to and confirmed by the two brothers and other partners in the Deeds of Partnership executed subsequent to the death of Jevabai Khimjee.

4. Various Deeds of Partnership were executed in the name of the said firm between 1929 and 2003. It is the case of the claimants that in the Partnership Deeds executed between 7th October 1929 to 17th February 1937, it was provided that when the said firm was dissolved due to any reason, then Jevabai wife of Khimjee Laljee shall only have right to use the name of the said firm. However, in the Partnership Deed executed on 10th June 1938, the said clause was modified.

5. Mrs. Jevabai Khimjee retired from the said partnership firm with effect from 29th January 1982. It is the case of the claimants that on her retirement from th