https://www.taxtmi.com/caselaws?id=197461 The High Court dismissed the challenge to the Company Law Board's order rejecting a petitioners' application under Section 8 of the Arbitration and Conciliation Act, 1996. It was held that statutory remedies under Sections 397 and 398 of the Companies Act can be pursued independently of contractual arbitration clauses, as arbitration clauses do not apply to winding up proceedings. The Court emphasized that relief under the Companies Act can contradict Articles of Association, which an arbitrator cannot do. The judgment clarified the boundaries between statutory and contractual remedies in arbitration and winding up matters. en-us Mon, 18 Apr 2016 00:00:00 +0530 Mon, 08 Jan 2018 09:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197461 The High Court dismissed the challenge to the Company Law Board's order rejecting a petitioners' application under Section 8 of the Arbitration and Conciliation Act, 1996. It was held that statutory remedies under Sections 397 and 398 of the Companies Act can be pursued independently of contractual arbitration clauses, as arbitration clauses do not apply to winding up proceedings. The Court emphasized that relief under the Companies Act can contradict Articles of Association, which an arbitrator cannot do. The judgment clarified the boundaries between statutory and contractual remedies in arbitration and winding up matters. Case-Laws Companies Law Mon, 18 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197461