7. We are supported in our view by a judgment of the Supreme Court in Haryana Telecom Ltd. v. Sterlite Industries (India) Ltd., JT 1999 (4) SC 545. In that case, a winding up petition was filed by creditor before the High Court and the Company moved an application under Section 8 of the Arbitration and Conciliation Act, 1996, contending, inter alia, that the High Court should refer the matter to arbitration. This contention failed before the learned Single Judge of the High Court and before the Division Bench of the High Court. When the matter came up before the Supreme Court, the Supreme Court pointed out (vide paragraph 5), 'The claim in a petition for winding up is not for money. The petition filed under the Companies Act would be to the effect, in a matter like this, that the Company has become commercially insolvent and, therefore, should be wound up. The power to order winding up of a Company is contained under the Companies Act and is conferred on the Court.' The Supreme Court held that the Arbitrator having no such power could not have entertained the petition and, therefore, the application made to the High Court for referring the matter to arbitration was misconceived. In our view, the principle laid down in this judgment applies to the situation before us. The DRT not having been invested with the power to wind up a Company, it would not be possible to urge before the Company Judge that the petition should not be heard.”
