( 1 ) THIS is a petition under Section 33 of the arbitration Act moved by the petitioner seeking declaration that respondent No. 2 has no authority or jurisdiction to act as an Arbitrator firstly because there exists no arbitration agreement between the parties and secondly there was no concluded contract and thirdly that the rights and claims in respect of the obligations of the parties are assignable under the law.

( 2 ) THE facts giving rise to the above petition are in short as under:

THAT Victor Cable Corporation (hereinafter referred as Victor Cables), a partnership firm of four partners was carrying on its business of manufacture and sale of cables of various sizes at 802, Joshi Road, New delhi and was a firm of repute with a well equipped factory at Sahibabad, Uttar Pradesh. The disputes arose between the partners after the death- of one of the partners of the said firm. One of the partners filed a suit against the other partners being Suit No. 95/80 for dissolution of the partnership firm and for accounts. In the said suit the properties of the firm were ordered to be put on sale. The petitioner company offered to purchase the assets of the said firm namely Vic