C. M. Nayar, J. ( 1 ) THE. present petition has been filed by the petitioner under Section 33 of the Arbitration Act, 1940 for declaration that the Arbitration Agreement dated April 26,1993 executed between the parties is invalid in law, null and void and further to hold that the arbitration proceedings under the Agreement are null and void. ( 2 ) THE petitioner is a member of Delhi Stock Exchange and is carrying on the business of stocks and shares brokers at the floor of Delhi Stock Exchange which is a body constituted under the Securities. (Contract) Regulation Act, 1956. Respondent No. I has been dealing with the sale and purchase of stocks and shares with the petitioner and she through her husband and attorney. Dr. S. C. Jain filed a criminal complaint against the petitioner under the provisions of Sections 409,420, 477, 406 and 417 of the Indian Penal Code in respect of the alleged business transactions. This complaint was filed in the year 1984 in the Court of Chief Metropolitan Magistrate and is still pending in the Court of Metropolitan Magistrate, Delhi. ( 3 ) THE learned Counsel for the petitioner has contended that the petitioner entered into an Arbitration Agreement on April 26, 1993 in order to resolve the disputes and differences amicably and as these disputes are also the subject matter of criminal complaint which was causing inconvenience and harassment to the parties, therefore, the agreement dated April 26,1993 was entered into as a solution to deal with the disputes and problems mutually and they were referred to the arbitration of the named Arbitrator. ( 4 ) THE learned Counsel for the petitioner has contended that he is facing harassment before the Criminal Court and such proceedings ought to have ended when the matter was referred to arbitration whereas the learned Counsel for the respondent has argued that the petitioner is not co-operating and the proceedings before the Arbitrator have been stalled and no Award has been rendered by the learned Counsel Arbitrator till date. ( 5 ) I have heard learned Counsel for the parties. Admittedly, the disputes continue to subsist between them which are the subject matter of reference to the learned Arbitrator, respondent No. 2 herein. ( 5 ) I have heard learned Counsel for the parties. Admittedly, the disputes continue to subsist between them which are the subject matter of reference to the learned Arbitrator, respondent No. 2 herein. The learned Counsel have agreed that the criminal proceedings pending in the Court of Metropolitan Magistrate shall be withdrawn and the parties shall cooperate and appear before the Arbitrator so that the matter is finally settled without any further delay. This is indeed the best solution to put an end to the controversy and disputes which have continued to exist despite the fact that the matter is pending consideration before the learned Arbitrator. In view of the facts and circumstances of the partics case, I direct as follows: (A) the criminal proceedings pending before the Criminal Court shall be withdrawn by respondent No. 1 as permitted in law within four weeks from today by moving an appropriate application in this regard; (b) the proceedings before the learned Arbitrator shall be revived. Both tlie parties shall co-operate and now appear before him on 3rd December, 1997 for further proceedings; (e) the learned Arbitrator shall dispose of the matter expeditiously and give his award within a period of four months from today; (d) the petitioner as well as respondent No. 1 shall pay the fee of the Arbitrator in equal proportion and the party who has not yet paid the outstanding fees shall clear the same on first appearance before him i. e. 3rd December, 1997. The present petition is disposed of in the above terms. There will be no order as to costs. Liberty is, however, given to the parties to seek further directions if it is deemed necessary. Let copy of the order be sent to the learned Arbitrator as well as be given to the learned Counsel for the parties.