( 1 ) THIS is an application to set aside an award of the Bengal Chamber of Commerce and Industry on two grounds, the first being that there was no dispute between the parties which could be referred to the said Chamber for arbitration. The second ground taken is that the contract being a forward contract within the meaning and definition of the expression in the Forward Contracts (Regulation) Act, 1952 was illegal inasmuch as it contravened the notification of the Central Government dated January 25, 1955, by virtue of which no such contract could be entered into in respect of the goods specified in the schedule including groundnut oil except with the permission of the said Government.

( 2 ) THE contract between the parties was entered into on November, 24, 1959, by exchange of bought and sold notes by brokers K. D. More and Co. The relevant clauses of the sold note are as follows:- Articles Groundnut Oil.

Rs . 59. 19 pp. per md. loose free delivered to buyer's

factory including excise duty with gate pass.

Terms Full payment within ten days after presentation of the bill.

Delivery January delivery 1960.

Rate

( 3 ) THE buyer had enquired of the sel