JUDGEMENT (ORAL)

CHANDRASEKHARAN SUDHA, J.

1. The present appeal under Section 37(b) of the Arbitration and Conciliation Act, 1996 (the A&C Act) has been filed by the petitioner in Suit No. 134/2014 on the file of the Additional District and Session’s Judge-03, Tis Hazari Courts, Delhi (the trial court), aggrieved by the Order dated 31.03.2016, by which their petition under Section 34 of the A&C Act, assailing the Arbitration

Award dated 31.03.2014 (the Award), was dismissed.

2. The parties herein shall be referred to in the same rank and capacity as they were arrayed in Suit No. 134/2014.

3. Brief facts emerging from the record reads thus: The petitioner is a registered partnership firm engaged in the business of commission agency (Aadhatiya) in cloth and fabrics and is a bonafide member of the Delhi Hindustani Mercantile Association. The petitioner was carrying on business with the respondents for several years, during which period the latter purchased cloth and fabrics from the former on credit basis in the course of regular commercial transactions.

3.1. It is the case of the petitioner that a running account was maintained in its books in respect of the transactions with the responde