N.N.MITHAL
SATYA PAL – Appellant
Versus
VED PRAKASH – Respondent
( 1 ) THIS second appeal arises out of a suit for recovery of certain amount which was due to the plaintiff from the defendant under an award said to have been given by the Arbitrators in a dispute of accounts between the parties.
( 2 ) THE suit of the plaintiff in brief was that the plaintiff and the defendant, who are brothers, were carrying on business in the name of M/s. Kanhaiya Lal Ved Prakash at Kanpur which was a registered firm. A dispute arose between the parties and, therefore, the matter was referred to the arbitration of Lalla Raliya Ram and Banarsi Das for deciding the matter through arbitration. The arbitrators went through the accounts of the firm and heard the parties and gave their award on 4th May 1966. The award was accepted by the parties and in token of their acceptance they had put their signatures on the award. It is said that the award given by the arbitrators was in the nature of an agreement between the parties. According to the award, a sum of Rs. 24,278. 15 became payable to the plaintiff by the defendant which was payable in instalments out of which rs. 16,300/- was paid to the plaintiff on various dates, leaving a balance of Rs. 7,978
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