Judgement

SABYASACHI MUKHARJI, J.:- Special leave granted.

2. This is an appeal from the judgment and order of the High Court of Madhya Pradesh dated 17th December, 1986. The appeal was filed by the plaintiff whose suit for a declaration that the eight agreements contracts executed between it and the defendant No. 1 M/s. Jayabharat Credit and Investment Company Ltd. were not Hire purchase agreements but were agreements relating to transaction of loan and for injunction restraining the defendant No. 1 from enforcing them until the decision of the suit, had been dismissed on the ground that the suit was not maintainable in view of the provisions of S. 32 of the Arbitration Act. 1940 (hereinafter called the Act). S. 32 of the Act stipulates that notwithstanding any law for the time being in force no suit shall lie on any ground whatsoever for a decision upon the existence, effect or validity of an arbitration agreement or award, nor shall any arbitration agreement or award be enforced, set aside, amended, modified or in any way affected otherwise than as provided in the said Act. The execution of documents containing the alleged arbitration clause was not disputed in this case. The clau