Wellington Associates Ltd. vs Mr. Kirit Mehta

The Supreme Court addressed an application under Section 11 of the Arbitration and Conciliation Act, 1996, concerning disputes arising from two agreements for the subscription and buy-back of shares. The Court emphasized the enforceability of arbitration clauses in commercial contracts, holding that the failure to comply with the buy-back obligations constituted a valid ground for arbitration. The Court directed the appointment of an arbitrator to resolve the disputes, affirming the parties' agreement to arbitrate under the specified terms.