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2014 (1) TMI 1811 - HC - Indian LawsPermanent injunction to restrain the defendants from proceeding before Singapore International Arbitration Centre for arbitration - violation of Shareholders Agreement dated 6th October , 2011 and Master Agreement dated 24th August, 2012 - Held that:- This Court held that no suit for such a relief can be entertained by the court when defendant No. 1 had prior thereto elected to refer the disputes for arbitration in the manner envisaged in the Shareholder Agreement. The legal position that follows aforesaid is that the issues that are raised by the plaintiff, namely, non –compliance of Clause 12.3(a) and Clause 12.3(b) are issues which have to be gone into by the Arbitral Tribunal. Section 5 of the said Act takes away the jurisdiction of the civil court. The said statutory provision has to be given effect to. The present suit does not lie and is barred under Section 5 of the Arbitration & Conciliation Act and Section 34 and 41(i) (h) of the Specific Relief Act in terms of Order 7 Rule 11(d) of CPC, the present suit is barred by law and hence, the plaint is liable to be rejected. Accordingly, the application is allowed and the present suit is dismissed.
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