ORAL JUDGMENT :- Defendant Nos. 1 and 2 have taken out this Notice of Motion for an order under section 45 of the Arbitration and Conciliation Act, 1996, referring the disputes raised in the plaint to arbitration in accordance with the arbitration agreement contained in an Agreement to Invest dated 16-12-1994, a Shareholder's Agreement dated 16-12-1994 and a Foreign Collaboration Agreement dated 4-4-1995.

2. The disputes arise under the said agreements as also under a buy back agreement dated 1-6-1996 as amended/modified by an agreement dated 6-12-2000. The buy back agreements do not contain an arbitration clause. The question is whether in the facts and circumstances of the case the arbitration agreements in the other agreements apply to the disputes and differences under the buy back agreement.

3. Mr. Sen opposed the Notice of Motion on the following grounds :

I. The provisions of section 45 are not applicable in the present case as Defendant Nos. 1 and 2 do not belong to contracting states as contemplated in the Act and the First Schedule thereto.

II. There is no arbitration agreement between the parties in respect of the disputes and differences raised in the plaint.

While cons

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