M. JAGANNADHA RAO, J.

( 1 ) THIS is an appeal preferred by the defendants in O. S. 137 of 1991 against an order passed by the IV Additional Judge, City Civil Court, hyderabad, in I. A. 318 of 1991 on 15-4-1991 refusing to grant stay of the trial of the said suit under Section 34 of the Indian Arbitration Act, 1940. The brief facts of the case are as follows:

( 2 ) THE appellants-defendants and the respondent-plaintiff entered into an agreement on 22-10-1984. This was an arrangement for negative world right control of t he picture "yaa Garib Nawaz". Under the said agreement, it is stated that the appellants borrowed various amounts from the respondent. It is also the case of the respondent in the plaint that the amounts due to it were not paid as per the understanding, that thereafter there was an amicable settlement on the issue when the appellants came down to Hyderabad from Bombay on 16-10-1990 and that the account was settled at rupees six lakhs towards the discharge and payment of the said settled account. It is further stated by the respondent-plaintiff that in discharge of the said amount, the appellants-defendants issued two cheques, one dated 31-12-1990 and the other dated 5

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