VIKRAM BAKSHI AND ANR Vs. CONNAUGHT PLAZA RESTAURANTS PV LTD & ORS
NATIONAL COMPANY LAW TRIBUNAL
VIKRAM BAKSHI AND ANR
CONNAUGHT PLAZA RESTAURANTS PV LTD And ORS
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(1.)This is second application preferred by Respondent No. 2 u/s 45 of the Arbitration and Conciliation Act, 1996 (for brevity, Arbitration Act) again with a prayer that the Tribunal may refer the parties and/or persons claiming through or under them to arbitration pursuant to arbitration agreement contained in para 40(b) of the erstwhile Joint Venture Agreement dated 31-3-1995, as amended. A further prayer has also been made to vacate the interim order passed on 16-9-2013 which is continued later. The earlier application being CA 94/2013 was dismissed as withdrawn on 30.1.2014 without any permission to file fresh one on the same cause of action.
(2.)Brief facts necessary for disposal of this application are that non applicant -petitioner filed CP No. 110(IMD)/2013 in September 2013 by invoking the provisions of Sections 397/398 of the Companies Act, 1956, with the grievance of oppression and mismanagement against the applicant - respondents. There has been plethora of applications filed by the parties. On the decisions rendered by the CLB on those applications, the orders were challenged before the superior Courts and the hearing before CLB was stayed. A perusal of the order sheet shows that at one stage, the matter was transferred to Chennai Bench which was brought back to Delhi Bench of the CLB after the orders were passed by Delhi High Court to that effect. A reference was made to Delhi High Court for issuance of criminal contempt on account of conduct of a counsel.
(3.)Thereafter, the arguments commenced and after the non applicant - petitioner had concluded his arguments, the erstwhile CLB granted time vide order dated 10-9-2015 to the non applicant - petitioners to file written submissions. Accordingly, written submissions were filed. It is in the background of this chequred history that this second application has again been filed u/s 45 of the Arbitration Act, curiously on the ground that in the written arguments, the non applicant - petitioners have changed their stand.
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