SUPREME COURT : In Haryana Telecom Ltd. vs. Sterlite Industries (India) Ltd.

The question regarding the winding up of a Company cannot be referred to an Arbitration, even if the agreement covers arbitration clause.

The power to order winding up of a Company is contained under the Companies Act and is conferred on the Court. An arbitrator, notwithstanding any agreement between the parties would have no jurisdiction to order winding up of a Company. The matter which is pending before the High Court in which the application was filed by the petitioner herein was relating to winding up of the Company which could obviously not be referred to the arbitration and, therefore, the High Court, was right in rejecting the application.

Link : https://indiankanoon.org/doc/606944/