Section 8(1)(b) in The Bombay Forward Contracts Control Act, 1947
(b)(i)between members of a recognised association,(ii)through a member of a recognised association, or(iii)with a member of a recognised association, provided that such member has previously secured the written authority or consent, which shall be in writing if the bye-laws so provide, of the persons entering into or making the contract, and no claim of any description in respect of such contract shall be entertained in any civil Court.