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    <title>1999 (1) TMI 540 - PUNJAB AND HARYANA HIGH COURT</title>
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      <description>Section 8 of the Arbitration and Conciliation Act, 1996 applies only where the proceeding before the court is itself a matter covered by the arbitration agreement. A winding up petition under the Companies Act, 1956 invokes the company court&#039;s special jurisdiction and is not displaced merely because the underlying contract contains an arbitration clause. Reference to arbitration is warranted only if there is a bona fide dispute requiring arbitral determination. Where the company has repeatedly acknowledged liability and shows no real dispute as to the debt, the winding up petition need not be stayed or referred to arbitration.</description>
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