JUDGMENT

Altamas Kabir, J.

1. On 23rd December, 1988, the parties to the Special Leave Petition entered into an Agreement at Calcutta for supply of chemicals manufactured by the Respondent to the Petitioner. In continuation of the aforesaid Agreement, the parties arrived at a Mutual Understanding on 15th May, 1989, whereby the Respondent would adjust the advance lying with it and would exclusively supply to the Petitioner its two products, namely, Sodium Chromate and Sodium Dichromate in West Bengal, Bihar, Orissa and Assam. The Understanding between the parties included other terms and conditions as well. The terms of the Understanding entered into between the parties were reduced into writing in an agreement and the same was executed at Calcutta on 5th August, 1989, reiterating the terms of the Understanding and containing an additional clause indicating that “Any dispute arising out of this agreement will be subject to Calcutta jurisdiction only.” [Emphasis supplied].

2. Since certain differences arose between the parties relating to the supply of goods in question, the Petitioner herein filed Original Suit No.588 of 1991 in the Calcutta High Court on 27th August, 1991, for rec