1 ARP38.10.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION ARBITRATION PETITION NO. 38 OF 2010 1. Mr. Ramdas Dadasaheb Nigade & 2 Ors. ... Petitioners Vs 1. Mr. Bapusaheb Shankarrao Yadav & Anr. ... Respondents Mr. Shriram S. Kulkarni with Mr. Sachin Chavan for the Petitioners. None for the Respondents. CORAM : S.J. VAZIFDAR, J. DATED : 30TH SEPTEMBER , 2010. P.C. : 1. This is a petition under section 11 of the Arbitration & Conciliation Act, 1996. 2. The parties had entered into a Memorandum of Understanding (MOU) dated 1st September, 2007, under which the Petitioner Nos.1 and 2 agreed to purchase the shares of the Respondent held in the third Petitioner-company - Chaitanya Agro Hitech Private Limited. 2 ARP38.10.sxw Petitioner Nos.1 and 2, the Respondents and the Petitioner No.3 are referred to in the MOU as the parties of the first part, second part and the consenting party respectively. The Petitioner has paid the entire consideration and received the shares in respect thereof under the agreement. According to the Petitioners, however, the Respondents failed and neglected to discharge the liabilities, claims, damages, dues, taxes and other moneys due and payable in connection with or out of the transactions with the third Petitioner-company till the date of the MOU. This, the Respondents were to do under clause 10 of the MOU. Under clause 11 of the MOU, the Respondents have furnished an indemnity to the Petitioners for the same. The disputes are, therefore, covered by the arbitration clause viz. clause 16 of the MOU. In any event, the question as to whether the claims fall within the jurisdiction of the arbitrator can be decided by the arbitrator. 3. The petition is, therefore, disposed of by appointing Justice P.B. Sawant (Retd.) as the sole arbitrator.