LAKSHMIKANTA JHA, J.

1. This is an application by the pltf. for leave to appeal to the S. C. from an order of a Bench of this Ct. dated 30-3-1951, directing the suit instituted by the petnr. to be stayed under S. 34, Arbitration Act. The relevant facts are these:

2. The petnr. (hereafter referred to as the pltf.) is a Company known as the Gaya Electric Supply Company Limited, incorporated under the Companies Act having its registered office at Gaya. The Company held a licence, called the "Gaya Electric Licence", granted by the Province of Bihar for the supply of electric energy within the limits of the town of Gaya. On 23-6-1949, the Govt., for certain reasons, revoked the licence by a notfn. with effect from 9-7-1949. Thereupon the petnr., on 4-7-1949, instituted Title Suit No. 58 of 1949 for a declaration that the order revoking the licence was mala fide & ultra vires. This suit, however, was compromised & the Province of Bihar agreed to acquire the undertaking on certain terms & conditions & an agreement was executed by & between the parties on 28-10-1949. There was an arbitration clause in the agreement which provided that in case of any difference or dispute between th