This Original Petition has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 (herein after referred to as "The Act"), seeking for the relief of appointment of sole Arbitrator to adjudicate the dispute between the petitioners and the respondents.

2. The necessary facts which are required to be noticed, as projected by the petitioners, are as follows :

(i) The family business of the parties herein was run by the grand father of the petitioners as well as respondents 2 to 4 and father of the first respondent, one Late L.V. Ramiah along with his sons, L.R. Manohar, L.R. Visweshwara Rao and L.R. Sivaprasad.

(ii) The petitioners herein are the legal heir of L.R. Manohar, who died on 17.08.2010; that L.V. Ramaiah died as early on 31.08.2004. The respondents 2 to 4 are the legal heirs of L.R. Visweshwara Rao who died on 14.10.2017. The first respondent is the youngest brother of that L.R. Manohar and L.R. Visweshwara Rao.

(iii) The father and three brothers, as referred to above, along with two others (who later retired) started a family business by way