I.D.Dua, J.

1. The Punjab Government on 12th of December, 1955 sold to Shri Surinder Nath Goel its pottery factory at Sonepat along with the manufactured goods by means of a registered sale-deed for a sum of Rs. 2,23,642/-. A sum of Rs. 36,000.00 was paid as advance money and Rs. 17,044/- on account of price of finished goods were to be paid within a period of six months from the date of the sale-deed; it is admitted that this sum was duly paid. The remaining amount of Rs. 1, 70, 598/- was agreed to be paid with interest at 51/4 per cent per annum computed from the date of the sale-deed in ten years by means of half-yearly equated instalments. The first instalment consisting of Rs. 10,8881/1/- (Principal and interest) was payable six months after the execution of the sale-deed and the subsequent half yearly instalments consisting of similar amount were payable on the expiry of further six months till the whole amount including interest was paid. In case of default of any instalment the Government was entitled to recover the entire balance in lump sum. There was also an arbitration clause in the sale-deed proving for reference to the arbitration of the Secretary to Punjab Go