( 1 ) THIS is a suit for a declaration that the decision and resolution of the defendant association and/or its Committee dated 1st April 1948 is void and of no legal effect and does not bind the plaintiff in any way and also for an injunction restraining the defendant association, their servants and agents from enforcing or giving effect to the said decision and resolution in any way. The case made out in the plaint is as follows:

( 2 ) THE plaintiff and the defendant No. 1 are members of the Calcutta Stock Exchange Association Ltd. (the defendant No. 2) to be referred to hereafter as the said association. The plaintiff's case is that on 24 November 1943 Sri Gopal Jalan a member of the plaintiff firm in his individual capacity sold 4,000 shares in Indian Iron and Steel Co. Ltd. to the defendant No. 1 at Rs. 35/12/- per share and a further 4,000 shares in the said company at Rs. 35/11/-per share. On 19th March 1944 out of the said 8,000 shares Sri Gopal Jalan bought back 6,000 shares at Rs. 38/6/- per share and the remaining 2,000 shares at Rs. 38/11/- per share. Thereafter on 18th March 1944 the plaintiff firm sent a letter to the defendant association intimating th