https://www.taxtmi.com/caselaws?id=199370 A petition alleging oppression under Sections 397 and 398 of the Companies Act, 1956 was considered against a request for reference to foreign arbitration under Section 45 of the Arbitration and Conciliation Act, 1996. The Company Law Board held that Section 45 requires a valid arbitration agreement covering the dispute and commonality of parties between the judicial proceeding and the arbitration agreement; that requirement was absent because the company and some parties were not common to all relevant agreements. The oppression petition was therefore not referable to ICC arbitration, and the request to stay or restrain the arbitral proceedings was also rejected. en-us Thu, 16 Dec 1999 00:00:00 +0530 Tue, 27 Feb 2018 12:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199370 A petition alleging oppression under Sections 397 and 398 of the Companies Act, 1956 was considered against a request for reference to foreign arbitration under Section 45 of the Arbitration and Conciliation Act, 1996. The Company Law Board held that Section 45 requires a valid arbitration agreement covering the dispute and commonality of parties between the judicial proceeding and the arbitration agreement; that requirement was absent because the company and some parties were not common to all relevant agreements. The oppression petition was therefore not referable to ICC arbitration, and the request to stay or restrain the arbitral proceedings was also rejected. Case-Laws Companies Law Thu, 16 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199370