The case was heard by the bench of Hon’ble Apex Court on 10th Dec.’15 and passed the following order:
“Having heard learned counsel appearing for the parties and taking into consideration the fact that these matters involve lengthy serious issues which need to be streamlined before resolving the same, we deem it fit and proper to appoint a former Judge of this Court as an Arbitrator to resolve the disputes involved between the parties.
As jointly agreed by the parties, we appoint Hon’ble Mr. Justice G.P. Mathur, a former Judge of this Court, as an Arbitrator, to resolve each and every issues involved in these matters. We pass this order on the submission made by one of the learned counsel appearing for the respondents that Hon’ble Mr. Justice G.P. Mathur, has given his consent to resolve the disputes involved between the parties.
Parties are directed to approach the learned Arbitrator for fixing the date and place of the arbitral proceedings. Fee shall be decided by the learned Arbitrator and borne equally by all the parties.
All the parties shall submit their respective proposed terms of reference before the learned Arbitrator. Learned Arbitrator shall first settle the terms of reference and thereafter, resolve the disputes involved between the parties as expeditiously as possible preferably within a period of nine months from the date the parties approach the learned Arbitrator. On completion of the arbitral proceedings, learned Arbitrator shall submit a report to this Court.
List the matters on receipt of report of the learned Arbitrator.”