Supreme Court on arbitration

The Supreme Court has held that even non-signatory parties to agreements could be referred to arbitration under the Arbitration and Conciliation Act. The expression “person claiming through or under” in Section 45 would mean multiple and multi-party agreements, though in exceptional case. In another ruling, the SC upheld a law passed by the Pondicherry Assembly to attach the property of a private firm for duping investors, observing that innocent public end up losing their hard earned money on account of unscrupulous financial companies.