V.P. Singh, Member - (1.) Applicant has filed this IA under Sec.45 of the Arbitration and Conciliation Act 1996 for referring the parties to dispute to arbitration under the shareholder's agreement (from now on referred to SHA) and for staying the proceedings of the company petition.
(2.) The brief facts of the case, as stated in the interim application, are that on or about 17/3/2017, respondent No.l filed a company petition U/S Sec.241, 242 and 244 of the Companies Act, 2013 before this Tribunal which was numbered as CP No.149/2017. In the said company petition, petitioner has stated that applicant is a company incorporated under the laws of Mauritius having its registered office at 1st Floor, Wing a, Cyber Tower I, Cybercity, Ebene, Mauritius.
(3.) It is also stated that the applicant currently held 35% of the paid-up share capital in the respondent No.2. The respondent No.2 is a part of SPvEI Group of Companies carrying on business at Plot No.X-1, 2 and 3, Block - EP, Sector - V, Salt Lake City, Kolkata - 700091. The applicant has stated that in the company petition respondent No.l has alleged that the applicant has committed through its nominee directors on the board of the respondent No.2, alleged acts of mismanagement in the respondent No.2 which are allegedly prejudicial to the respondent No.2 and oppressive to the respondent No.l.;