(1) This is an application for obtaining a declaration that there exists no valid and enforceable arbitration agreement between the petitioner and the respondents, and the persons who are appointed as arbitrators have no authority, and that the alleged transactions in respect of which the disputes had arisen between the parties were outside the scope of Article 96 of the articles of association and bye-law 38-A of the East India Cotton Association, Ltd. In the alternative the petitioner has prayed for revoking the authority of the arbitrators.

(2) The petition is filed under Sections 33 and 5 of the Indian Arbitration Act X of 1940. The material allegations and submissions made by the petitioner in his petition are these.

(3) The petitioner and the respondents are members of the East India Cotton Association, Limited, and do business in cotton. One Ramanlal Nagindas was in the employ of the petitioner for about four years prior to 1948. Towards the end of April 1948 the petitioner received letters from several merchants calling upon the petitioner to give them delivery of cotton in respect of several delivery contracts. The petitioner made enquiries and found that without a