M/S. WELLINGTON ASSOCIATES LTD. vs KIRTI MEHTA

The Supreme Court addressed an application under Section 11 of the Arbitration and Conciliation Act, 1996, concerning disputes arising from agreements for the subscription and buy-back of shares. The Court held that the failure of the respondent to honor the buy-back commitment constituted a breach of contract, thus entitling the petitioner to seek arbitration. The Court emphasized the enforceability of arbitration clauses in commercial agreements, affirming the need for adherence to contractual obligations.