Judgment

GROVER, J.: - These two appeals by special leave are from a judgment of the Calcutta High Court holding that the disputes between the parties could not be referred to arbitration.

2. It is necessary to state the facts only in Civil Appeal No. 2012/66 The appellant was and still is a member of the East India Jute and Hessain Exchange Limited, hereinafter called the "Exchange", which is the only association recognised under the provisions of the Forward Contracts(Regulation) Act, 1952, hereinafter called the "Act . The respondent is not a member of the said association On December 21, 1962 transaction was entered into between the parties by means of a letter written by the respondent to the appellant. This letter was in the following terms:

"We have today bought from you the following goods:

Description : Jute Carpet Backing cloth bound on cardboard cores 152" wide.

Weight : 9 oz. on 36".

Warp Ends : Per Inch 15.

Weft Ends : Per Inch 13.

Oil contents : Upto 2%.

Quantity : 5,000 Rolls, each roll having continuous length of 300 yards approximately.

Rate : Rs. 4,000/- per ton.

Delivery : 500 Rolls monthly March 63 to December 1963.

All other terms and conditions of the East India