( 1 ) THESE two civil revision petitions under article 227 of the Constitution of India are filed challenging the order of the learned principal District Judge, Ranga Reddy district made in O. P. No. 437 of 2000 on 25th september 2001. Civil Revision Petition no. 1441 of 2002 is filed by the respondent in the above mentioned O. P. , while the Civil revision Petition No. 331 of 2002 is filed by the petitioner in the said O. P. ,

( 2 ) THE impugned order is passed under section 48 of the Arbitration and conciliation Act, 1996 (hereinafter referred to as the Arbitration Act ).

( 3 ) FOR the sake of convenience the parties are referred to as they are arrayed in the court-below.

( 4 ) THE parties herein entered into an agreement called estisna Purchase agreement on 2-5-1995, by which the petitioner agreed to extend pre-export finance facility to the respondent and advanced an amount of US $5 Million. The respondent agreed to produce and deliver polyester filament Yarn by 4-11-1996.

( 5 ) AS per the terms of the above mentioned agreement, the stocks so supplied by the respondent were to be sold by the petitioner to a company known as sanghi Industries Limited , which