JUDGMENT

D.P. Mohapatra, J.-Leave granted in both the SLPs.

2. These appeals filed by Shri Pradeep Anand, son of late Shri C.L. Anand are directed against the orders passed by the High Court of Delhi on the interim application No. 7558/98 in OMP No. 197/98 by the learned single Judge and the order passed by the Division Bench in FAO (OS) No.134/99 dismissing the appeal. In the former order the learned single Judge granted stay of further proceedings before the arbitrator appointed by the International Chamber of Commerce in Arbitration Case No.8080/BGD/OLG till decision of the objections to the award dated 28.4.1998 rendered by the arbitrator in the matter. M/s. ITC Ltd., a company within the meaning of the Companies Act, 1956 is the main contesting party in the case.

3. On 11.9.1990 an agreement styled as co-operation agreement was made in Tokyo (Japan) between M/s. Toshiba Corporation (hereinafter called Toshiba ), M/s. Toshiba Battery Co. Ltd. (hereinafter called TABCL ), M/s. ITC Ltd. (hereinafter called ITC ) having its registered office at 37, Chowringhee, Calcutta, M/s. Toshiba Anand Batteries Ltd. (hereinafter called Toshiba Anand ) having its registered office at M.