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PETITIONER: MESSRS BASANT LAL BANARSI LAL
Vs.
RESPONDENT: BANSI LAL DAGDULAL
DATE OF JUDGMENT: 30/11/1960
BENCH: SARKAR, A.K. BENCH: SARKAR, A.K. GAJENDRAGADKAR, P.B. SUBBARAO, K. WANCHOO, K.N. MUDHOLKAR, J.R.
CITATION: 1961 AIR 823 1961 SCR (2) 780
ACT: Forward Contracts in Oilseeds--If illegal in Greater Bombay--Bombay Forward Contracts Control Act, 1947 (Bom. LXIV of 1947), s. 3--Essential Supplies (Temporary Powers) Act, 1946 (XXIV of 1946), s. 8.
HEADNOTE: Various contracts for sale of goods had been made between the parties in Bombay each of which contained an arbitration clause. Disputes having arisen in March, 1952, in respect of these contracts, they were referred to arbitration and a composite award was made on October 7, 1952, against the respondent. One of these disputes had arisen out of a forward contract in groundnuts. The respondent applied to have the award set aside on the ground that the forward contract in groundnuts was illegal as such a contract was prohibited by the Oilseeds (Forward Contract Prohibition) Order, 1943, issued under the Essential Supplies (Temporary Powers) Act, 1946, passed by the Central Legislature. The appellant contended that the Essential Supplies (Temporary Powers) Act, 1946, was repugnant to the Bombay Forward Contracts Control Act, 1947, passed by the Provincial Legislature of Bom...