RAGHAVAN, J. :- The defendants in C. S. No. 6 of 1972 (A. A.) are the appellants.

2. The suit is for an order (1) that the agreement dated 11-7-1962 between the parties providing for a reference to arbitration in respect of matters in, dispute to which the agreement relates be filed into court, (2) determining the questions of differences between the parties to which the agreement dated 11-7-1962 applies, and (3) appointing an arbitrator with a direction to proceed with the arbitration in respect of matters in dispute between the parties and pass an award in favour of the plaintiffs. The first defendant is a company incorporated under the Indian Companies Act having its registered office at No. 136 Jessore Road, Calcutta. The second defendant is a company incorporated under the Indian Companies Act, having its registered office at No. 51 Canal East Road. Calcutta. The Crompton Engineering Co. (Madras) Ltd., hereinafter referred to as the plaintiff entered into an agreement dated 11-7-1962, with the Electrical Manufacturing Co. Ltd., hereinafter referred to as the first defendant, whereunder the first defendant agreed to fabricate all requirements of steel towards the sub-st