( 1 ) THE parties to this application entered into a partnership agreement dated 5-1-1976 to carry on business under the name and style of Godhur Colliery Co. The said deed contained an arbitration clause as follows:--"32. If during the continuance of the partnership or any of them afterwards any dispute, differences or question shall arise between the partners hereto relating to or appertaining to such partnership of these presents, such disputes, difference and question shall be referred to arbitration of two Arbitrators one to be appointed by the First party and the Other by the other parties and in case of difference between the Arbitrators at any point the same shall be referred to a third party umpire as the case may be final and binding on the parties. "

( 2 ) ACCORDING to the petitioner, the partnership stood dissolved on expiry of the period of partnership on 31-12-1970 or from 17-10-1971 when the business undertaking was taken over by the Government under the provisions of Coking Coal Mines (Emergency) Provisions Ordinance 1971 which ultimately culminated in nationalisation of the said business under the provisions of Coking Coal Mines (Nationalisa