Chatterjee Petrochem Co. & Anr vs Haldia Petrochemicals Ltd

The Supreme Court addressed the validity of the arbitration agreement under Clause 15 of the restructuring agreement dated 12th January 2002, involving Chatterjee Petrochem (Mauritius) Company, the Government of West Bengal, and Haldia Petrochemical Limited. The Court held that the arbitration clause was enforceable despite the respondent's claims of it being void or inoperative. The Court also clarified that the remedy for disputes arising from private arrangements should not be sought under Section 397 of the Companies Act, 1956, as the issues did not constitute oppression by the company.