Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 2003 (7) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (7) TMI 490 - SC - Companies LawWhether under the existing arbitration clause the dispute between the parties is arbitrable in accordance with I.C.A. Rules? Whether the Registrar, I.C.A. has any jurisdiction to direct the claimant to get fresh agreement signed. If so, what is the effect of failure to obtain such fresh agreement and in such case which will be the forum for adjudication of dispute between the parties? Whether the Registrar, I.C.A., in asking for the new requirement under question Nos. I & II as above, is justified in his decision not to proceed with the case further, and also to ask the Petitioner F.C.I. to seek approval of Respondent Nos. 2 and 3 for appointment of a common Arbitrator upon the F.C.I. for obtaining consent from Respondent Nos. 2 and 3 afresh in this respect? Held that:- Appeal allowed. It just and more appropriate, proper and reasonable — both in law and in equity and interests of justice to direct ICA to forthwith and not later than sixty days from this date nominate the Arbitrator as sought for by the appellants and place the matters before such Arbitrator, leaving open to the parties to raise and pursue all objections and contentions and thereby seek for the decision of the Arbitrator as envisaged under section 16 of the 1996 Act, besides getting adjudication of the respective disputes in these cases on merits and in accordance with law. Both parties will have leave and liberties to do so before the Arbitrator on being nominated/appointed by the ICA, pursuant to these orders.
|