use of financial_research for projection

May 28th, 2015
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Abilene Christian University
Course: financial_research
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This Application for reference to Arbitration was rejected by the Trial Court and by the Madras High Court as well on the basis that the allegations of fraud merited detailed appreciation of evidence which could only be settled in court.

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Section 19 of Civil Procedutre Code Suits for compensation for wrongs to person or movables.Where a suit is for compensation for wrong done to the person or to movable property, if the wrong was done within the local limits of the jurisdiction of one Court and the defendant resides, or carries on business, or personally works for gain, within the local limits of the jurisdiction of another Court, the suit may be instituted at the option of the plaintiff in either of the said Courts.Section 8 of the Indian Arbitration and Conciliation Act, 1996 (the Act) empowers the court to refer a matter before it to arbitration, in the event that the matter falls within the scope of an arbitration agreement between the parties. The Indian Supreme Court in a string of judgments has categorically held that this reference is mandatory and the judicial authority has no discretionin the same.

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