In this Execution First Appeal the legality and the validity of order dated 8th of January 1969 passed by Shri M. C. Roy, Subordinate Judge, Manipur, by which he accepted the objections of the respondents under Sec. 47 of the Civil P. C., hereinafter called the Code, against the execution application filed by the appellants is challenged.

2. The facts bearing on the appeal are not much in dispute. On 21-3-1968 the present appellants petitioned the Registrar of the Co-operative Societies, Manipur, for arbitration between themselves and the respondents herein respecting the dispute arising out of an agreement dated 17-8-1967. That agreement was made between the appellants Y. Amudombi Singh and Ch. Ibohal Singh, respectively the Chairman and the Secretary of the Managing Committee of Kharungpat Lamjaokhong Khong Ahanbi Fishing Co-operative Society Limited, hereinafter called the Society, and the respondents. The agreement was in regard to the enjoyment of the sub-fishery called Soirel forming part of Kharungpat Fishery No. 164 for the period 1-4-1967 to 31-3-1968. The reliefs claimed were for the recovery of balance lease-money, immediate cessation by the respondents of the en