- (1.) This is an application to set aside and declare void an award.
(2.) By an agreement dated October 6, 1951, the Petitioner appointed the Respondent as banian for sale of its products for a period of ten years certain. Clause 15 of the contract contains an arbitration clause which is as follows: 15. Any dispute that might arise between the parties in relation to or concerning this agreement shall be decided by arbitration, each party being entitled to nominate an arbitrator of his own under the provision of Indian Arbitration Act, 1940 or any modification or re-enactment thereof and in the case of difference between the arbitrators, they shall have right to nominate jointly ah umpire before entering on the reference and the decision of the umpire shall be final and binding upon the parties and valid in all legal Courts.
(3.) By a notice dated June 12, 1952, the Petitioner cancelled the contract. Thereupon disputes arose between the parties. The Respondent appointed Sri Jitendra Nath Banerjee, a pleader, as arbitrator and the Petitioner appointed Pundit Ajoy Singh, advocate, as its arbitrator. The two arbitrators appointed Sri Basanta Lal Murarka as umpire. The Respondent claims Rs. 2,97,000 and a further sum of Rs. 34,800 as losses and damages for wrongful breach of contract by the Petitioner.;