JUDGMENT :

R.D. Dhanuka, J. :

By this Appeal filed under Section 37 of the Arbitration and Conciliation Act, 1996 (for short ‘Arbitration Act’), the appellants have impugned the order dated 11th July, 2019 passed by the learned Single Judge dismissing the Arbitration Petition filed by the appellants under Section 34 of the Arbitration Act. By consent of parties, appeal was heard finally.

Some of the relevant facts for the purpose of deciding this Appeal are as under :-

2. The appellants were the original petitioners in the Arbitration Petition filed under Section 34 of the Arbitration Act and the respondent was the original respondent in the Arbitral proceedings. Before October 1960, Mr. Mahomedali Esmail, the grand father-in-law of the respondent no.1 and great grand father of the appellant nos. 2 to 4 were carrying on the business of tanners, export and import and were dealers in hides and skin, shares and other allied lines under the name and style of M/s. Mohamedali Esmail, a sole proprietary concern. Vide a Deed of Partnership dated 9th November, 1960, Mr. Mohamedali Esmail constituted a partnership firm with Mr. Yakubali Mohamedali Sewjee (hereinafter referred to as ‘Yakubali’) w