JUDGMENT :

VIBHU BAKHRU, J.

1. The petitioners have filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereafter ‘the A&C Act’) impugning an arbitral award dated 29.06.2019 (the impugned award) passed by an Arbitral Tribunal comprising of a Sole Arbitrator.

2. The petitioners contend that the impugned award is liable to be set aside in terms of Section 34 (2)(a)(iii) in as much as the petitioners were not given any notice for appointment of an arbitrator or of the arbitral proceedings. The petitioners also claims that they were unable to present their case and contest the said proceedings.

3. This case has a chequered history spanning more than twenty- five years. The respondent claims that a substantial amount is owed to him by the petitioners. Accordingly, on 06.05.1995, the respondent filed a civil suit in this court, being Civil Suit No. 168/1995, for recovery of Rs. 1,10,73,468/- from the petitioners. The petitioners contested the maintainability of the said suit in view of the arbitration clause as contained in the bye-laws of the Delhi Stock Exchange Limited (hereafter ‘DSE’) and sought reference of the disputes to arbitration. Both partie