1 arbp1253-10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.1253 OF 2010 Sushilkumar O. Sharma ....Petitioner V/s. Hotchand D. Taurani ....Respondent Mr.Gaurav Joshi with Mr.Shreyas Mehta and Mr.Abhishek Sawant i/b Apex Consillis for the Petitioner. None for the Respondent. CORAM : S.J. VAZIFDAR, J. DATE : 30TH NOVEMBER, 2010. P.C. :- 1. The petition has been filed under section 9 of the Arbitration and Conciliation Act, 1996. 2. For the reasons stated in the order dated 30.9.2010, subsequently corrected to read as 5.10.2010, the rights of the parties must be protected pending arbitration proceedings. Each of the parties have a 50% share in the profits and losses of the firm. The partnership deed is at Will. The respondent has issued a notice of dissolution. 3. The Court Receiver’s representative has prepared an inventory of the stock lying in the premises alleged by the petitioner to be the asset of the firm. By an order dated 30.9.2010, subsequently corrected to read as 5.10.2010, the locks of both the parties have been placed on the premises. 2 arbp1253-10 4. In the circumstances, the petition is disposed of in terms of the order dated 30.9.2010, subsequently corrected to read as 5.10.2010. Further the parties are at liberty to apply for either the sale of the stock or appointing an agent in respect of the premises pending the arbitration proceedings. 5. This order is subject to the petitioner filing an application under section 11 of the said Act for the appointment of the arbitrator on or before 15.1.2011, failing which this order shall stand vacated. Needless to add that the filing of the application would be necessary only in the event of the parties not being able to agree to the constitution of the arbitral tribunal.