1. The matter arises under the Chit Funds Act, 1982. The petitioners have come forward to challenge the order dated 02.07.2010 passed by the first respondent and seeks to set aside the same, with a further direction to take the petitioners appeal filed against the order dated 08.04.2009 passed by the second respondent Arbitrator in ARC.No.409 of 2006 and dispose of the same on merits. By the impugned order, the first respondent dismissed the appeal filed by the petitioners stating that since the appeal was filed with a delay of four months and 12 days, it was barred by limitation under Section 70 of the Chit Funds Act, 1982.

2. When the writ petition came up on 28.09.2010, private notice was directed to be issued to the respondents. Pending the writ petition, an interim stay was granted. Though the respondents 1 to 3 were served, in respect of the fourth respondent, the service was not completed and hence, a paper publication was ordered by this Court on 12.04.2011. Accordingly, the same was effected.

3. The petitioners are Partners of M/s.Bharathi Finance and Investments. An arbitration proceeding was initiated by the third respondent Chit Fund before the second responde