( 1 ) THE learned advocate for the petitioners seeks permission to delete respondent No. 6. Permission granted. Amendment of the cause title to be carried out on or before 11. 12. 2007. ( 2 ) THIS petition for Arbitration of all the disputes between partners of Shri Laxmi Vijay Ceramics, respondent No. 1, by appointment of an Arbitrator in exercise of powers under Section 11 of the Arbitration and Conciliation Act, 1996 has been brought by the petitioners, comprising of one group, who are holding 42% total share in the partnership firm. It is also an accepted position between the parties that respondent Nos. 2 to 5 represented by respondent No. 4, are holding 58% total share in the partnership. For the present, it is not necessary to enter into break up of the individual shares of each of the groups. ( 3 ) HEARD the learned advocates appearing on behalf of the petitioners and respondent Nos. 2 to 5. The only dispute is in relation to as to whether one or the other group should walk out of the partnership firm handing over the affairs of the firm to the other group, but behind this dispute, the principal bone of contention is the valuation of the properties of the firm. The parties had therefore undertaken an exercise to resolve this issue on their own through their respective representatives but today, the learned advocates have reported that the said exercise has not yielded any result. ( 4 ) HENCE, the matter was further heard and ultimately the parties have submitted a written statement as under: "all parties herein, do hereby respectfully jointly submit as under:-1. That all the parties herein are ready and willing to amicably resolve their inter-se disputes as reflected in the present matter, seeking appropriate indulgence and orders from this Hon ble Court. 2. That all the parties herein are ready and willing to amicably resolve their inter-se disputes as reflected in the present matter, seeking appropriate indulgence and orders from this Hon ble Court. 2. That in furtherance thereof and in view of the rival submissions before the Hon ble Court today in presence of the parties present, the parties on both the sides unequivocally agree to appoint an independent authorized valuer for the movable and immovable properties, assets and liabilities of the respondent No. 1 partnership firm for evaluating the present market price of the same, and for a direction to the said independent valuer to undertake the exercise of such valuation in presence of one authorized representative of both the sides and to complete the same within a time bound schedule and to place the same on records of the present matter before this Hon ble Court. 3. That all the parties do hereby undertake and unequivocally declare to be bound by and accept the said valuation that may accordingly be submitted by the aforesaid independent valuer before this Hon ble Court. 4. That on the basis of the aforesaid accepted independent valuation to be submitted before this Hon ble Court, the parties herein agree to further decide either to take over the entire running business of the respondent No. 1-Firm by paying off by the parties of one side to the parties of another side their respective shares as per the partnership deed and retiring the parties of other side, or to walk out / resign from the respondent No. 1- firm by receiving their respective shares as per the partnership deed. 5]. That all the parties herein accordingly, pray to this Hon ble Court to pass appropriate orders in this connection in the present matter, by recording the aforesaid statements and averments". ( 5 ) THEREFORE, for the present, without entering into any discussion as to which group would take over the business of the firm, the Designated Court finds it proper to appoint an independent valuer to ascertain the market value of the properties of the firm. ( 5 ) THEREFORE, for the present, without entering into any discussion as to which group would take over the business of the firm, the Designated Court finds it proper to appoint an independent valuer to ascertain the market value of the properties of the firm. This exercise has been necessitated because during course of hearing, on behalf of the petitioners it was submitted that the valuation of the properties would be ranging between Rupees Eighty Lacs to Rupees One Crore, while on behalf of the respondents it was contended that such a valuation cannot exceed Rupees Thirty Five Lacs. As the disparity between the versions of two sides is wide, to narrow down the scope of the controversy, appointment of an independent valuer has become necessary. ( 6 ) IN the circumstances Mr. Raju P. Patel, a practicing Chartered Accountant, of Mr. Raju P. Patel and Co. 19-Vasukanan Complex, Income-Tax, Ahmedabad, is hereby appointed to act as an independent valuer. The valuer shall undertake the exercise in presence of one authorized representative each of both the sides and complete the exercise within a period of three weeks, the period commencing from 11th December, 2007. ( 7 ) THE parties are directed to ensure that the valuer is permitted inspection of not only all the properties of the firm, but the relevant books of accounts, records and any other documents, which may be necessary for the purpose of valuation, are made available to the valuer so as to ensure that the valuer completes the exercise within the aforesaid time frame. Both the parties are directed to cooperate with the Valuer. Both the sides, namely, the petitioners comprising one group, and respondent Nos. 2 to 5 comprising the other group, undertake to bear the expenses of valuation, i. e. fees payable to the valuer equally and further undertake to make payment directly to the valuer before the final valuation report is tendered by the valuer. In light of the aforesaid statement made on behalf of the parties by the learned advocates the parties are directed to ensure that such fees are paid as undertaken by them. ( 8 ) THE valuer is directed to commence the exercise of valuation on the basis of a simple copy of this order without waiting for a certified copy or a writ of the Court. ( 9 ) MATTER to come up on 11. 01. ( 8 ) THE valuer is directed to commence the exercise of valuation on the basis of a simple copy of this order without waiting for a certified copy or a writ of the Court. ( 9 ) MATTER to come up on 11. 01. 2008.