( 1 ) THIS is an appeal against an order passed by Sen, J. refusing to stay a suit under the provisions of Section 34 of the Indian Arbitration Act, 1940 (hereinafter referred to as "the said Act" ). The suit concerned is suit No. 2306 of 1966 (P. N. Djakarta Lloyd v. Asiatic Shipping Co. Private Ltd. ). In that suit, which was filed in this Court on or about 21st November, 1966, the brief allegations in the plaint are as follows: It is stated that the plaintiff was the owner of a vessel, namely, S. S. Capella and that by a charter party dated October 28, 1963 made between the plaintiff and the defendant No. 1, the Asiatic Shipping Co. Private Ltd. , the appellant before us, it was agreed, inter alia, that the said vessel then in the Bay of Bengal would proceed to the port of Calcutta and the defendant No. 1 as the charterer would load goods and cargo therein and would proceed to Djakarta and Surabaya in Indonesia and deliver the cargo, on being paid 16,000 as freight. It is further alleged that the defendant No. 2, Associated Commercial Co. of India Private Ltd. In consideration of the plaintiff entering into the charter party, guaranteed the payment of 16,000 to the