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TMI Blog1969 (11) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... or the Applicant. Anand, Dasgupta and Sagar for the Respondent. JUDGMENT Palaniswamy, J. -- This judge's summons has been taken by the Hind Mercantile Corporation Private Ltd., under section 34 of the Arbitration Act, for stay of further proceedings in Company Petition No. 47 of 1969. The respondent-company is Rayner and Company Ltd., a company incorporated in the United Kingdom. The responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or under the contract should be first settled by arbitration as provided therein, and that the existence of an award is a condition precedent for any of the parties to the contract to initiate legal proceedings. It is, therefore, contended that the company petition filed for winding up the applicant-company should be stayed. The respondent-company contends that the matter arising for decision in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rbitrator shall be a condition precedent to the right of either party to bring any action or other legal proceedings against the other in respect of any such dispute. The question is whether the institution of the petition under section 433(e) of the Companies Act is a proceeding that would come under the said arbitration clause. No doubt, the language employed in clause 26 of the contract is wide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so far as the relief claimed in the company petition is concerned, I do not think that it can be said to arise out of or under the contract. Under section 34 of the Arbitration Act if any party to an arbitration agreement or any person claiming under him commences any legal proceedings against any other party to the agreement or any person claiming under him in respect of any matter agreed to be r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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