Judgement

Appeal (No. 14 of 1943) from an order of the High Court made in the exercise of its appellate jurisdiction (March 20, 1942), which varied an order of the same court in its original jurisdiction (November 25, 1941).

The following facts are taken from the judgment of the Judicial Committee In September, 1940, a dispute arose between the parties to this appeal as a result of transactions in which they had been engaged in the cotton markets of Bombay, Liverpool and New York. An agreement between the parties provided for arbitration under the by-laws of the East India Cotton Association, Ld. Two arbitrators were appointed in accordance with those by-laws, and there was now no dispute about the validity of their appointment. On March 19, 1941, the arbitrators made an award whereby they awarded to the respondents the sum of Rs. 34,508-6-5, with interest. The appellants were dissatisfied with that award. The by-laws of the East India Cotton Association gave them a right of appeal to the Board of the Association " within " 10 days from the date of publication of the award," and they gave a proper notice of appeal within the prescribed period. The by-laws defined " the Board " as m