TaxTMI 
TaxTMI 
1974 (5) TMI 56
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....ts in this matter some time ago, I had adjourned the application without delivering judgment in view of the proposals made during the course of hearing concerning the settlement of the case. Unfortunately, a full settlement in the main petition has not been finalised between the parties on account of the fact that the settlement arrived at requires a considerable period for fulfilment. The settlem....
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....tween the company and any person to whom these presents shall apply the same shall be referred to arbitration and if the parties cannot agree upon a single arbitrator there shall be two arbitrators who shall have power to choose an umpire and in either case such reference shall be so arranged and conducted in all other respects as to conform to the provision in that behalf contained in the Arbitra....
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....f a company, the said articles cannot override the operation of the Act. It is only necessary to mention the provisions of section 9 of the Companies Act, 1956, which states as follows : "9. Act to override memorandom, articles, etc,-Save as otherwise expressly provided in the Act- (a)the provisions of this Act shall have effect notwithstanding any thing to the contrary contained in the memorand....
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....-clause (b) reproduced above shows that the article if repugnant to the provisions of the Act will be void. I think this is sufficient to decided this application under section 34 of the Arbitration Act, 1940. The member of a company has a right to file a winding-up petition under section 433 of the Companies Act, 1956, in certain circumstances. That statutory right cannot be ousted by articles o....