JUDGMENT

S.B. Sinha, J. — Leave granted.

2. Interpretation of an agreement containing a two tier arbitration vis-a-vis the applicability of Part I or Part II of the Arbitration and Conciliation Act, 1996 (for short, "the 1996 Act") is in question in these appeals which arise out of a judgment and order dated 28.07.2004 passed by a Division Bench of the Calcutta High Court in A.P.O.T. No. 182 of 2004.

FACTS :

3. M/s. Centrotrade Minerals and Metal Inc. (for short, "Centrotrade"), Appellant in SLP (C) No. 18611 of 2004 and the Hindustan Copper Limited (for short "HCL"), Appellant in SLP (C) No. 21340 of 2004 entered into a contract for sale of 15,500 DMT of Copper Concentrate to be delivered at Kandla Port in the State of Gujarat in two separate consignments.

4. The said goods were ultimately required to be used at the Khetri Plant of HCL situated in the State of Rajasthan. The seller in terms of the contract was required to submit a quality certificate from an internationally reputed assayer, mutually acceptable to the parties. After the consignments were delivered, the payments therefor had been made. However, a dispute arose between the parties as regard the dry weight of concentr