TaxTMI 
TaxTMI 
2014 (11) TMI 1138
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....red to as "the Agreement"). While the petitioner No.1 - M/s Demerara Distilleries Pvt. Ltd. itself is the Joint Venture Company born out of the Agreement, the petitioners Nos. 2 to 4 claim to represent M/s Kanda and Associates on whose behalf the Agreement with the respondent - Company, which is a Foreign Company incorporated in Guyana was signed by one B.S. Kanda. 2. According to the petitioners, the Agreement contemplated equal participation in the equity of the Joint Venture Company to be set up thereunder as well as transfer of technology, process know-how, etc. Under the agreement, the Joint Venture Company i.e. petitioner No.1 was also entitled to use the trade-marks of the respondent - Company. The petitioners have stated that the r....
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....Company which has been born out of the Agreement and by three other individuals, who though claim to be a part of M/s Kanda and Associates, were not signatories to the Agreement. Relying on the decisions of this Court in Deutsche Post Bank Home Finance v. Taduri Shah [(2011) 11 SCC 375] and Indowind Energy Limited v. Wescare (India) Limited and another [(2010) 5 SCC 306], it is contended that the petitioners cannot seek to invoke the Arbitration Agreement not being parties or signatories thereto. 4. The respondent - Company further contends that invocation of the Arbitration Clause, even if the same is held to be applicable, is premature as under clause 3 of the Agreement, differences are required to be resolved first by mutual discussions....
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....w Board at the instance of the present respondent and the prayer of the petitioners therein for reference to Arbitration cannot logically and reasonably be construed to be a bar to the entertainment of the present application. Admittedly, a dispute has occurred with regard to the commitments of the respondent - Company as regards equity participation and dissemination of technology as visualized under the Agreement. It would, therefore, be difficult to hold that the same would not be arbitrable, if otherwise, the Arbitration Clause can be legitimately invoked. Therefore, it is the objection of the respondent - Company that the present petition is not maintainable at the instance of the petitioners which alone would require an in-depth consi....