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2017 (2) TMI 78 - Tri - Companies LawOppression and mismanagement - Joint Venture Agreement - arbitration petition - Held that:- It is not correct to say that the issues raised in the arbitration petition and present petition are different The CP was filed by alleging oppression and mismanagement on the Part of DDPL and that too with reference to violations arising out of JVA dated 17.10.2002. As stated supra, JVC was in fact creation of JVA dated 17.10.2002. It is not correct to say that JVA was mutually terminated and the fact remains that parties mutually agreed to terminate JVA and thus, initiated process of termination in terms of JVA by invoking arbitration Clause. As stated the Hon'ble Supreme Court has appointed a sole arbitrator to decide all disputes including the disputes raised in arbitration petition. So, the respondent/petitioner can raise all the disputes raised here before the Hon'ble Sole Arbitrator. The respondent/petitioner is also bound the order of the Hon'ble Supreme Court and they cannot maintain separate proceedings in this Tribunal and it leads to multiple proceedings. The objection raised by the respondent/petitioner about the lengthy and costly procedure involved in referring issue to the arbitration is already addressed by the Hon'ble Supreme Court by suggesting that arbitration proceedings should be commenced and concluded as expeditiously as possible. It is to mention here the instant case is not to appoint a fresh arbitrator but it is a case where, whether the sole arbitrator already appointed by the Hon'ble Supreme Court can decide the issues raised in the present company petition as well. As stated supra, the Hon'ble Supreme Court in its order passed in Arbitration Case has already referred all the disputes. So, the present company petition is not maintainable and the same is liable to be rejected for the reasons stated above.
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