U.N.Sinha, J.

1. This appeal has been referred to this Full Bench for hearing, in pursuance of an order passed by a Division Bench of this Court on the 3rd January, 1966 to the effect that in view of certain conflicting decisions of this Court, it is desirable that the question involved in the case should be finally resolved by a larger Bench.

2. The appeal has been filed by Makeshwar Misra, who was opposite party No. 1 to an application filed by Sureshwar Prasad Singh under Sec.14(2) of the Arbitration Act, 1940 (10 of 1940). Originally Sureshwar Prasad Singh was respondent No. 1 to this appeal, and, after his death, he is being represented by Ms heirs and legal representatives, who have been substituted in his place. From the records of the case, it appears that Sureshwar Prasad Singh has been described as the plaintiff and Makeshwar Misra as defendant first party, and, therefore, I shall refer to Sureshwar Prasad Singh as the plaintiff and Makeshwar Misra as defendant No. 1.

3. The facts of the case, in short, are as follows. The plaintiff alleged that, in the circumstances mentioned by him, a sum of Rs. 3,500 had been deposited with defendant No. 1 in four instalments,