son of respondent no. 1 and respondent no. 2, Punesh Choudhary, who is the step-son of respondent no. 2, for the business and property including the petroleum outlet in the name and style of Çhoudhary Petroleum House’ located at Balicha NH-8, Udaipur and commercial space admeasuring 46,000 sq. ft. at Balicha, Udaipur, building and machinery including tank, lorry motor bike, on the basis of the family settlement dated 29.06.2019 (Annex.1), which bears the signatures of all the family members. According to the said settlement, three parties, appellant/applicant, respondent no.1 and 2 had a share of profit and loss in the ratio 10:45:45 respectively and for the purpose of the same, appellant/applicant and respondent no. 2 deposited a sum of Rs. 1 crores jointly to respondent no. 1, to do their part. 2. By virtue of the said partnership deed (Annex.2), the entire property of the proprietorship firm, i.e. Choudhary Petroleum House including the petroleum outlet and the adjoining commercial space was brought in the partnership firm. Also, in the said partnership deed (Annex.2), clause 21 provided for the dispute resolution mechanism, wherein it was agreed by the parties that in case of any dispute between the partners, the same shall be resolved through mutual dialogue, failing which, the same would be referred to arbitration by a sole arbitration in accordance with the provisions of Arbitration and Conciliation Act, 1996.
