JUDGMENT :

(Krishna Rao, J.) :

1. This is an application under Section 34 of the Arbitration and Conciliation Act, 1996 challenging the Award passed by the learned Sole Arbitrator dated 27th May, 2009 wherein and where under the Learned Arbitrator awarded an amount of Rs. 17,01,080/-along with interest at the rate of 10% per annum from one month after the date of award till the payment of the awarded amount.

BRIEF FACT OF THE CASE IS AS FOLLOWS :

2. Premchand Jotwani and Dharamdas Jotwani, were the sons of Late Sugnichand Jotwani. Ginchand Jotwani was the son of Premchand Jotwani. The respondent Smt. Veena Jotwani is the wife of Ginchand Jotwani. The petitioner no. 1 Shamlal Jotwani is the younger son of Late Dharamdas Jotwani. The petitioner No. 2 is the daughter-in-law of Dharamdas Jotwani (Wife of Harilal Jotwani) and the petitioner no. 3 is the wife of Late Dharamdas Jotwani. A partnership Deed was executed on 21st October, 1965 for the purpose of carrying out their business namely Bambino at 40E, Free School Street, Calcutta between the following partners with following shares :

3. In the year 1966, the partnership firm opens a second shop room at 47/2, Gariahat Road, Calcutta. In the year 1982, the partnership firm was dissolved and a new partnership was re-constituted on 1st July, 1982 under which shares of the partners with regard to business of Bambino at Free School Street was divided in the following manner:

4. As regard the partnership business of Bambino Gariahat was concerned, the shares of the partners were divided in the following manners:

5. The business of Bambino, Free School Street was essentially carried on by the petitioner No. 1 being the sole male partner. The other partners were entitled to participate in the business, none of the other partners took any active part in the day today carrying on business of Bambino, Free School Street. The showroom of Bambino Free School Street was taken on rent by Smt. Lajwanti Jotwani (since deceased) and was paying the monthly rent in respect of the said premises. Smt. Lajwanti Jotwani allowed the partnership firm to carry on the business from the said premises and accordingly, the business of Bombino had been carried out from the said premises. It was the internal arrangement between the parties that the occupational charges for the said premises shall be paid by the partnership firm directly to the landlord. About early eighties, the firm has also taken the premises No.15, Free School Street on rent for the purpose of godown and the rent of the godown was paid by the partnership firm till December 1995.

6. As per the case of the petitioners that in the year 1995, the roof of the show room situated in the building at 40E, Free School Street was collapsed 9th and the landlord “Calcutta Muslim Orphanage” issued a letter on October, 1995 along with reminder to the Lajwanti Jotwani to vacate the said premises and accordingly in terms of the decision taken at the meeting of the partners held on 24th August, 1997, the tenancy of the premises was surrendered but inspite of service of notice, the respondent Veena Jotwani did not attend the meeting. The ent