C.L. SONI, J.

1. This petition, filed under Article 226/227 of the Constitution of India, raises a prime issue, amongst several other issues, as to whether, in respect of the matter involved in the Company Petition filed under Sections 397, 398 read with Section 399, 402 and 403 of the Companies Act, 1956 (the Act) before the Company Law Board (the CLB), the arties to the company petition can be referred to arbitration under Section 8 of the Arbitration and Conciliation Act, 1996 (the Arbitration Act).

2. The respondent Nos.2 to 4 have filed Company Petition No.78 of 2013 before the CLB for the following reliefs prayed in para 8 thereof:-

(i) That this Hon’ble Board may be pleased to hold and declare that the emorandum of Understanding dated 9.7.2010 is neither binding on the Company nor on the petitioners;

(ii) That this Hon’ble Board may be pleased to direct the respondent no.2 (SEL) along with the respondent nos. 3 to 8 to refund the amount of Rs.200 crores, siphoned away under the EPC contract dated 10.3.2010, to the Company, along with interst on the aforesaid amount at such rate as this Hon’ble Board may deem fit and expedient;

(iii) That this Hon’ble Board may