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2010 (11) TMI 846 - HC - Companies LawCommon order passed by the Company Law Board (‘CLB’) challenged allowing the applications filed by the Respondents under section 45 of the Arbitration & Conciliation Act, 1996 Held that:- In regard to the submissions as well, this Court finds no reason to differ from the reasoning and conclusions arrived at by the CLB discussing the provisions of sections 8 and 45 of the AC Act and correctly concluding that the essential requirements of reference of a dispute to arbitration was that the action should be brought before the judicial authority which CLB undoubtedly was. Secondly, the two SHAs had to contain an arbitration clause which, in fact, they did. One of the parties to the SHAs in each matter had applied to the CLB and these applications were made even before submitting a first statement on the merits of the disputes to the CLB. Appeal dismissed.
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