ORDER : 1. Mr. G.L. Sanghi, Sr. Adv. for the appellant commenced his arguments at 10.50 a.m. and continued upto 1.00 p.m. 2. After lunch at 2.05 p.m. Mr. Anil B. Diwan, Sr. Advocate for the appellant commenced his arguments and continued till 4-CO p.m. when the court rose for the day taking item No. 5 as part heard. 3. Upon being mentioned Intervention application by Mr. F.S. Nariman, the Court allowed written submission in the matter on behalf of the intervening party, but no oral arguments. 16.7.86. The appeals were called in for further hearing today. 4. Mr. Anil B. Diwan resumed his arguments at 11.20 a.m. and continued upto 1.00 p.m. At 2.05 p m. Mr. K.S. Cooper resumed his arguments and continued upto 2.45 p.m. when the court directed that in view of the point involved, i.e. to say whether the arbitrator in the arbitration proceedings is required to give reasons is an important question in view to certain development. we are, therefore of the view that these matters should be Heard by a larger Bench consisting of at least 5 Judges. We, accordingly direct that the matters be placed before the Hon'ble Chief Justice for constitution of larger Bench. In view of the importance of the matters, it may be heard as expeditiously as possible.