1. This is an Application taken out by the first defendant in the Suit, under Section 45 of the Arbitration and Conciliation Act, 1996, seeking to refer the parties to the present Suit

C.S. No.924 of 2006, to Arbitration, in accordance with the provisions contained in the Joint Venture Agreement dated 12. 1995.

2. I have heard Mr. A.L. Somayaji, learned Senior Counsel appearing for the applicant/first defendant, Mr. Y.P. Narula, learned Senior Counsel appearing for the first respondent/plaintiff and Mr. N. Ramakrishnan appearing for the second respondent/second defendant.

3. The dispute between the parties, has arisen under the following circumstances:

.(a) The plaintiff Enmas Engineering Private Limited, has an Associate Company by name Enmas Process Technology Limited (referred to in the abbreviated form as ETPL), which is engaged in Engineering, Sales and Distribution of Recovery Boilers and Evaporators. The said Company Enmas Process Technology Limited entered into a Joint Venture Agreement on 12. 1995 with a Company known as A. Ahlstrom Corporation, a Corporation duly organised and existing under the laws of Finland and having its principal place of business at He