LAWS(GJH)-2014-8-41

SADBHAV INFRASTRUCTURE PROJECT LIMITED Vs. COMPANY LAW BOARD

Decided On August 14, 2014
Sadbhav Infrastructure Project Limited Appellant
V/S
COMPANY LAW BOARD Respondents

JUDGEMENT

(1.) THIS petition, filed under Article 226/227 of the Constitution of India, raises a prime issue, amongst several other issues, as to whether, in respect of the matter involved in the Company Petition filed under Sections 397, 398 read with Section 399, 402 and 403 of the Companies Act, 1956 (the Act) before the Company Law Board (the CLB), the parties to the company petition can be referred to arbitration under Section 8 of the Arbitration and Conciliation Act, 1996 (the Arbitration Act).

(2.) THE respondent Nos. 2 to 4 have filed Company Petition No. 78 of 2013 before the CLB for the following reliefs prayed in para 8 thereof: -

(3.) MINUTES recorded by the Company for the meeting held upto 25th May have been verified by Parties and found to be correctly recorded and agreed upon in all respect.