( 1 ) THIS is an application under Sections 30 and 33 of the Arbitration Act, 1940 challenging the award dated 30th of Jan. 1978 made by one Shri A. K. Sen, Barrister-at-Law. The award and the dispute centre round a family concern named as Ramkanai Jamini Ranjan Paul Pvt. Ltd. Before I deal with the history of the dispute it may be relevant to refer to certain facts for the purpose of appreciating the grounds upon which the challenge to the award is based. It appears that there was an application to this Court under Sections 237, 397, 398 and 402 of the Companies Act, 1956 about the disputes amongst the shareholders in the company named Ramkanai Jamini Ranjan Paul Pvt. Ltd hereinafter called the said company. It is not necessary to set out in detail the history of the said dispute. But thereafter the parties agreed to refer the disputes to the arbitration of Shri A. K. Sen, arbitrator; an arbitration agreement in writing dated 10th of May, 1977 was entered into. It would be necessary to refer in brief to the said arbitration agreement. The agreement is between Krishna Kanta Paul the respondent No. 1 herein who is the son of Ramani Kanta Paul being the respo