IA No.4158/2016 (of defendants u/S 8 of Arbitration Act r/w O-VII R-11 CPC).

1. The application of the five defendants, under Section 8 of the Arbitration and Conciliation Act, 1996 for reference of the parties to this suit to arbitration, is for adjudication.

2. The two plaintiffs have instituted this suit inter alia pleading:

(i) that the defendants No.1,4&5 proposed that the plaintiffs should invest in the defendants? business of solar energy plant and represented that the plaintiffs would not only be able to earn hefty lease rentals but also be entitled to get other lawful and statutory benefits like accelerated depreciation etc.;

(ii) that it was specifically represented that the defendant No.3 Company, which was under the control and direction of the defendants No.1,4&5, had the necessary authorizations to develop, own, operate and commercially exploit a 2 MWp thin film Photovoltaic Solar Plant, transmission line from power plant to the Grid Substation, Bay Extension Work at Grid Substation including all the infrastructure and relevant installations required to connect the electricity-producing equipment to the distribution/transmission grid at the Grid Substation in Jh