(Civil Miscellaneous Appeal filed under Section 10-F of the Indian Companies Act, 1956 against the order dated 27.12.2005 in C.A. Nos.154, 155 and 160 of 2005 in C.P. No.50 of 2005 pending on the file of the Additional Principal Bench of the Company Law Board.)

Against the Company Petition filed by Kasthuri & Sons Limited (“KSLâ€) before the Company Law Board, Southern Region Bench, Chennai, under Sections 397, 398, 402 and 403 of the Indian Companies Act, 1956 (“the Actâ€) alleging acts of oppression and mismanagement in the affairs of Sporting Pastime (India) Limited (“SPILâ€), the respondents 1,2,5,8,9 and 10 in the Company Petition have filed C.A. Nos. 154, 155 and 160 of 2005 before the Additional Principal Bench of the Company Law Board (“CLBâ€) under Section 8 of the Arbitration and Conciliation Act, 1996 (“the Act, 1996â€) to direct the parties for arbitration and dismiss the Company Petition as not maintainable on the ground that the grievances of KSL form part of Clause 21 of an agreement dated 19.07.2004 which provides for resolving the disputes by arbitration and that KSL has already instituted the arbitration proceedings to resolve certain dis