RAMESNDRA MOHAN DATTA, J.

( 1 ) THIS is an application under Section 34 of the Arbitration Act 1940 for stay of the suit filed by the respondent Bangur Brothers Limited against the petitioner Shree Luchminarain Jute Manufacturing Co. Ltd.

( 2 ) THE facts are that by exchange of a bought and a corresponding sold note by the broker a contract was entered into being contract dated February 2, 1967 whereby Bangur Brothers Limited purchased from the petitioner 40,000 bags of Heavy cees of the size, weight and description fully mentioned in the said contract. The said contract inter alia provided the following arbitration clause :--" (a) All matters, questions, disputes, differences and/or claims arising out of and/ or concerning and/or in connection with and/or in consequence of or relating to Transferable Specific Delivery Contracts, including the validity thereof whether or not the obligation of either or both parties under this contract be subsisting at the time of such dispute and whether or not this contract has been terminated or purported to be terminated or completed shall be referred to arbitration as provided for in the said bye-laws. (b) Arbitration of any claims and disput

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