M.R. Shah, J.

1. Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Commercial Court, Vadodara dated 15/10/2016 in Commercial Civil Miscellaneous Application No. 108/2016 by which the learned Judge has rejected the said application submitted by the appellants herein, original opponents before the learned Arbitral tribunal, submitted under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "the Arbitration Act"), appellants herein - original applicants before the learned Commercial Court has preferred the present First Appeal under Section 37 of the Arbitration Act.

2. The facts leading to the present First Appeal in nutshell are as under;

[2.1] One Mrs. Ritu @ Nirmala Advani and the present respondent herein were the partners of M/s. Hariom Marketing Firm having equal share i.e. 50:50 in the said firm. Thereafter, the husband of Mrs. Ritu @ Nirmala Advani was inducted as partner in the said firm and new partnership deed was executed wherein Mr. Mahesh Advani was taken as partner in M/s. Hariom Marketing Firm with effect from 01/04/2005 and the profit and loss sharing was agreed at the rate that the