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1999 (7) TMI 545 - SC - Companies Law
Winding up petition rejected - Held that - Appeal dismissed. 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 a company. The matter which is pending before the High Court in which the application was filed by the petitioner herein was relating to winding up of the company. That could obviously not be referred to the arbitration and therefore the High Court in our opinion was right in rejecting the application.
The Supreme Court dismissed a petition under section 8 of the Arbitration and Conciliation Act, 1996, stating that a matter for winding up of a company cannot be referred to arbitration, as the power to order winding up is conferred on the Court under the Companies Act. The petition was rejected by the High Court, upholding the consistent view that such matters cannot be arbitrated.
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