B.S. WALIA, J.

1. Prayer in this petition under Article 227 of the Constitution of India is for setting aside order dated 23.08.2017-Annexure P-5, passed by the Learned Additional Civil Judge (Senior Division), Malout, dismissing the petitioners/defendants application u/s 8 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act) for referring the parties to arbitration.

2. Brief facts of the case leading to the filing of the instant revision petition are that plaintiff/respondent No.1 filed a suit against the petitioners/defendant Nos. 2 and 3 as well as respondent No.2/defendant No.1 for recovery of Rs. 87,35,185/- i.e. Rs. 67,28,224.64/- as principle amount and Rs. 20,06,960.36/- as interest @ 12% per annum besides future interest @ 12% per annum till realization of the amount on account of price of agricultural produce sold by plaintiff/respondent No.1 to Commission Agent Defendant No.1/respondent No.2.

3. That on receipt of notice in the suit, the petitioners/defendants appeared before the learned trial Court and filed application dated 07.10.2016 u/s 8 of the Act for referring the parties to the suit to arbitration in terms of Clause No. 15 in