BHARAT HANDICRAFTS PRIVATE LTD Vs. STANDARD BRANDS LTD
LAWS(CAL)-1963-6-13
HIGH COURT OF CALCUTTA
Decided on June 20,1963

BHARAT HANDICRAFTS (PRIVATE) LTD. Appellant
VERSUS
STANDARD BRANDS LTD. Respondents




JUDGEMENT

A.N.Ray, J. - (1.)This is an application for setting aside Award No. 526 of 1962 dated October 31, 1962 made by the Bengal Chamber of Commerce in case No. 295 of 1962 and for an order that the Award be declared null and void. The petitioner entered into a contract with the respondent on or about January 30, 1962. A true copy of the contract is annexed to the affidavit affirmed by Saligram Jhajharia on June 10, 1963. There are various grounds in the petition for setting aside the Award. One of the grounds was that the contract is illegal. The petitioner's contention is that the alleged contract is a Forward Contract and a transferable specific delivery contract within the meaning of Forward Contract Regulation Act 1952 and neither the petitioner was a member of East India Jute and Hessian and Gunny Brokers nor at any material time member of the East India Jute and Hessian Exchange Ltd.
(2.)Counsel appearing on behalf of the respondent conceded that the contract was a transferable Specific Delivery Contract and further conceded that neither the petitioner nor the respondent nor the broker was a member.
(3.)Counsel appearing for the respondent contended that the contract was saved by reason of a Notification. In order to enable the respondent to rely on the Notification directions were given for further affidavit. That is how respondent Saligram Jhajharia affirmed the affidavit on June 10, 1963.


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