1.In this petition under Section 9 of the Arbitration and Conciliation Act, 1996 (referred to as `the Act” hereinafter), the preliminary objection raised by the respondents before me that needs to be determined is, whether Clause 9 of a Memorandum of Family Settlement (MOFS) dated 3.3.2000 entered into between the parties tantamount to an arbitration agreement. If it contains an Arbitration Agreement, as contended by the petitioners, the present petition would be maintainable, but if it does not contain an Arbitration Agreement as argued by the Respondents, the present petition would fail as not being maintainable.

2.The facts giving rise to the present petition insofar as they are necessary to determine the preliminary issue may be noted. The Petitioner No. 1 and the Respondent No. 1 are brothers and the sons of Late Mr. L.P. Jaiswal. Further, Petitioner No. 2 and Respondent No. 2 are the wives of Petitioner No. 1 and Respondent No. 1 respectively.

3.Late Mr. L.P. Jaiswal founded M/s Jagatjit Industries Ltd. in the year 1944. The petitioner being one of the sons of late Shri L.P. Jaiswal headed the management of the said company since 1977. However, it appears tha