HDFC SECURITIES LTD. vs STATE OF MAHARASHTRA

The Supreme Court held that the High Court's dismissal of the writ petitions under Article 227 and Section 482 Cr.P.C. was justified as premature, emphasizing that judicial intervention is not warranted at this stage. The Court clarified that the arbitration process initiated by the respondent against the appellants was a valid remedy and should be exhausted before seeking judicial review. Consequently, the appeal was dismissed, affirming the High Court's decision.