Judgment

G.P. Mathur, J.—This appeal by special leave has been preferred against the judgment and order dated 21.5.2002 of Calcutta High Court by which the application moved by the first respondent under Order 39 Rule 1 and 2 and Section 151 CPC was allowed and Hindustan Chambers of Commerce, Mumbai (second respondent) was restrained from proceeding in Arbitration Case Nos. A/186 and A/187 subject to deposit of Rs. 2 lakhs by the first respondent with the Registrar General within two days of receipt of the certified copy of the order.­

2. The first respondent Chand Mal Baradia filed Title Suit No. 993 of 1999 in the City Civil Court at Calcutta for permanent injunction restraining the defendants from proceeding with the arbitration proceedings, which had been initiated by the appellant Shree Subhlaxmi Fabrics Pvt. Ltd. The case of the plaintiff (first respondent) in brief is that he was carrying on business under the name and style of M/s. Chand Mal Prakash Chand and Co. at Calcutta; that Shree Subhalaxmi Fabrics Pvt. Ltd., Mumbai (defendant No. 1), which is a company registered under the Companies Act and sells cloth through its agent M/s. Naresh Enterprises, which has its office at