The Supreme Court allowed the joint application and referred all parties to arbitration before Justice S. Ranganathan, a retired Judge of the Court, as the sole Arbitrator, pursuant to the arbitration agreement executed during pendency of the appeal.[1000044920001][1000044920007][1000044920008] No orders were passed on I.As. 3 and 4. (!) The Court held that submission of the first statement on the substance of the dispute did not bar referral where the party bringing the original action raised no objection.[1000044920004] It interpreted the phrase "which is the subject of an arbitration agreement" in Section 8 to permit agreements formed during pendency of proceedings.[1000044920005] (!) Referral was obligatory under the peremptory language of Section 8 upon satisfaction of its conditions, as the subject matter fully aligned with the agreement's scope.[1000044920004][1000044920007] Nothing remained to be decided in the original action or appeal, which stood disposed of accordingly, with no need for stay of proceedings or further orders. (!) [1000044920007][1000044920008] (!) All rights, obligations, and remedies were thereafter governed exclusively by the Arbitration and Conciliation Act, 1996, including challenges to any arbitral award before the court defined in Section 2(e).[1000044920007]