1. Rule. Heard forthwith by consent of parties.

2. This petition challenges the legality and correctness of the order passed by the learned sole Arbitrator on 8.4.2018.

3. By the order passed on 8.4.2018, the learned Arbitrator rejected the application filed by the petitioners taking objection that the agreement being not duly stamped, could not be acted upon or read in evidence unless it is impounded under Section 33 of the Maharashtra Stamp Act (for short, the “Stamp Act”) and dealt with as per the provisions contained in Chapter IV of the Stamp Act.

4. The respondent filed a summary civil suit under Order 37 of the Code of Civil Procedure against the petitioners seeking a decree in the sum of Rs. 3,51,26,260/- together with interest @ 21% per annum with quarterly rests. In response to the suit summons, the petitioner at the first available opportunity filed an arbitration agreement dated 9.4.2014 and moved an application (exhibit 23) under Section 8 of the Arbitration and Conciliation Act, 1996 (for short, the “Arbitration Act”) read with Section 9A of the Code of Civil Procedure for referring the matter to an Arbitrator named therein. The application was resisted by the