1999 (7) TMI 545

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.... JJ   Arun Jaitley, Pradeep K. Bakshi and Peyush Kalra for the Petitioner. Bharat Sangal for the Respondent. ORDER 1. On a winding up petition having been filed by the respondent before the High Court, the petitioner herein moved an application under section 8 of the Arbitration and Conciliation Act, 1996 ('the Act') inter alia, contending that the High Court should refer the matt....

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....efer parties to arbitration where there is an arbitration agreement.-(1) A judicial authority before which an action is brought in a matter which is the subject of an arbitration agreement shall, if a party so applies not later than when submitting his first statement on the substance of the dispute, refer the parties to arbitration. (2) The application referred to in sub-section (1) shall not ....

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....ion filed under the Companies Act, 1956 would be to the effect, in a matter like this, that the company has become commercially insolvent and, therefore, should be wound up. The power to order winding up of a company is contained under the Companies Act and is conferred on the Court. An arbitrator, notwithstanding any agreement between the parties, would have no jurisdiction to order winding up of....