JUDGMENT - Chagla, C.J.

1. A very interesting question under the Arbitration Act arises in this appeal. The appellant engaged the respondents to effect certain transactions on the stock exchange. The respondents are brokers and members of the Bombay Native Share and Stock Brokers Association. In respect of certain transactions the respondents made a claim upon the appellant. The appellant having failed to pay, at the instance of the respondents the matter was referred to arbitration. The appellant challenged the right of the arbitrators to go into matters which were in dispute between him and the respondents, and his contention was that the contract being a forward contract and not a ready contract for purchase and sale of shares, the contract was void, and therefore the agreement to refer the disputes to arbitration was also invalid and not binding.

2. Notwithstanding the objection of the appellant, the arbitrators proceeded with the arbitration and made and published their award on 21st June, 1952. The award was then filed in Court and the notice of the filing of the award was served on the appellant on 6th October, 1952. The appellant then filed a petition on 9th January, 1953, fo

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