(1.) THIS is an application for stay of the suit under Section 34 of the Arbitration Act. The petitioners case is that there was an agreement in writing dated 5-7-1956 by which the petitioners agreed to buy and the respondents agreed to sell 25,000 tons of manganese ore of certain specification and at a price mentioned in the contract. The contract contained the following arbitration clause: "Any dispute arising out of the contract is to be settled by arbitration in New York according to the rules of the American Arbitration Association".
(2.) DISPUTES and differences arose between the parties and on or about 15-1-1958 the petitioners referred such disputes and differences in terms of the contract to the arbitration of the American Arbitration Association in accordance with the rules thereof.
(3.) ON or about 13-2-1958 the petitioners were served with the writ of summons in Suit No. 202 of 1958 filed in the Ordinary Original Civil Jurisdiction of this Court whereby the petitioners came to learn that the respondent had filed a suit on 6-2-1958.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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