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2016 (4) TMI 1300 - HC - Companies LawApplication under Section 8 of Arbitration and Conciliation Act - Held that:- Petitioner is invoking a statutory remedy which is in addition to the contractual remedy. Moreover, under Section 397(2)(b) of the Companies Act, 1956, Company Law Board has to come to a conclusion that a case for winding up is made out, prior to granting any relief. In Haryana Telecom Ltd. Vs. Sterlite Industries (India) Ltd, (1999 (7) TMI 545 - SUPREME COURT OF INDIA) Supreme Court has held that arbitration clause is not attracted to winding up proceedings. It is also settled law that under Sections 397 and 398 of the Companies Act, relief can be granted even contrary to any Articles of Association, which an Arbitrator cannot do as he is a creature of the contract i.e. Articles of Association. Consequently, the present writ petition being bereft of merit is dismissed along with the applications.
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