Having failed to receive any reply to the said notice,by another legal notice dated 1st December,2000,the respondent called upon the appellant to pay balance amount of Rs.43,947,517/-to them as charter hire in respect of vessel JAG PRAJA for the period from 1st September,1998 to 31st August,1999 within 15 days from date of receipt of the said notice or treat it as an arbitration notice