Quantcast
Viewing all articles
Browse latest Browse all 26324

Corporate Laws - Case Law - M/s Young Achievers Versus IMS Learning Resources Pvt. Ltd. 2013 (9) TMI 137 - SUPREME COURT

Maintainability of Petition - Arbitration clause - Permanent Injunction - Petition was made to the High Court of Delhi for a Permanent Injunction restraining infringement of a registered trademark, infringement of copyright, passing off of damages, rendition of accounts of profits u/s 8 r.w Section 5 of the Arbitration and Conciliation Act - High Court Rejected the Application holding that that earlier agreements which contained arbitration clause stood superseded by a new contract arrived at between the parties by mutual consent - Held that - Parties had entered into a fresh contract contained in the Exit paper which does not even indicated any disputes arising under the original contract or about the settlement thereof, it was nothing but a pure and simple novation of the original contract by mutual consent - Exit paper clearly indicated that it was a mutually agreed document containing comprehensive terms and conditions which -admittedly does not contain an arbitration clause. The High Court was right in taking the view that it was not a case involving assertion by the respondent of accord a satisfaction in respect of the earlier contracts - If that be so, it could have referred to arbitrator in terms of those two agreements Following Union of India v. Kishorilal Gupta and Bros. 1959 (5) TMI 37 - SUPREME COURT - The principle laid down was that if the contract was superseded by another, the arbitration clause, being a component part of the earlier contract, falls with it - But where the dispute was whether such contract was void ab intio, the arbitration clause cannot operate on those disputes, for its operative force depends upon the existence of the contract and its validity............................... Corporate Laws - Case Law

Viewing all articles
Browse latest Browse all 26324

Trending Articles