https://www.taxtmi.com/caselaws?id=197461 A statutory petition for oppression and mismanagement under Sections 397 and 398 of the Companies Act, 1956 is not displaced by an arbitration clause, because the remedy is statutory in character and may go beyond the contractual scope of the articles of association. The analysis notes that the Company Law Board must first be satisfied under Section 397(2)(b) that a case for winding up is made out before granting relief, and that relief under these provisions may be granted even contrary to the articles. An arbitrator, being bound by contract, cannot grant such statutory relief. On that reasoning, reference of the dispute to arbitration was rejected. 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 A statutory petition for oppression and mismanagement under Sections 397 and 398 of the Companies Act, 1956 is not displaced by an arbitration clause, because the remedy is statutory in character and may go beyond the contractual scope of the articles of association. The analysis notes that the Company Law Board must first be satisfied under Section 397(2)(b) that a case for winding up is made out before granting relief, and that relief under these provisions may be granted even contrary to the articles. An arbitrator, being bound by contract, cannot grant such statutory relief. On that reasoning, reference of the dispute to arbitration was rejected. Case-Laws Companies Law Mon, 18 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197461