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2014 (8) TMI 1179 - HC - Companies LawReference to Arbitration - Whether the disputes in a petition properly brought under Sections 397 and 398 read with Section 402 of the Companies Act, 1956 can be referred to arbitration? - HELD THAT:- No, subject to the caveat that I have noted regarding a mala fide, vexatious or oppressive petition and one that is merely 'dressing up' to avoid an arbitration clause. The disputes before the CLB were outside the purview of the arbitration agreement as they related to matters not covered by the SSD. The appointment of an observer-cum-facilitator was entirely without warrant and served no effective purpose. The impugned order is upheld only to the extent that it holds that disputes in a properly brought petition under Sections 397 and 398 read with Section 402 of the Companies Act, 1956 are not referable to arbitration.
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