Ghose, J. - (1.) This appeal is directed from an order dated February 7, 2005 whereby the Hon'ble First Court rejected an application filed by the appellant under Section 8 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as the said Act).
(2.) In this appeal two questions arose before us :- (a) Whether the appeal is maintainable; (b) Whether the agreement in question contained an Arbitration Clause.
(3.) Facts also pleaded in the petition that under an agreement dated 5th August, 1993 the appellant herein was to supply the chrome ore to the respondent herein for conversion and for return of the finished materials to the appellant herein. Accordingly, respondent started lifting the chrome ore and receiving the same as well as coke from the appellant. The appellant further incurred various expenses and raises its debit notes in respect thereof as a result a sum of Rs. 2,51,60,753-81 have become due and payable by the respondent to the appellant. Inspite of demands respondent failed to pay the said amount and the appellant duly issued a notice under Section 433 of the Companies Act, 1956 (hereinafter referred to as the said Act) and initiated the winding up proceeding for its claims. After instituting the said proceedings by the appellant herein, the respondent filed a counterblast suit on 9th January, 1998 and claimed a decree for a sum of Rs.5,12,64,200/-.;