LIBERTY COMMODITIES LTD Vs. LMJ INTERNATIONAL LTD

JUDGEMENT

(1.) This is an application for preferring an urgent appeal and obtaining an order of stay in respect of an impugned order dated the 10th of November, 2004.

(2.) The order was passed in two completely separate matters, one being an interlocutory application made for dismissal of an admiralty suit in which an order for arrest had been made earlier on the 26th of October, 2004, it was alternatively prayed for, that the order of arrest or the direction of furnishing of security to the extent of Rs. 3 crores be dispensed with.

(3.) The second matter was an application made under section 9 of the Arbitration and Conciliation Act, 1996 in regard to a foreign arbitration which parties had agreed would commence and conclude in London under the Rules of the Grain and Peed Trade Association there, located at 6, Chapel Place, the rules of it being commonly known as the GAFTA RULES.