Looking for elusive arbitration clause
The question whether an agreement contains an arbitration clause still spawns long litigation, though contracts are supposed to be drafted by sharp-minded lawyers. In the latest such case, the Supreme Court ruled that despite the use of words like ‘mediators/arbitrators’ and ‘binding decision’, there was no clear indication that the parties had agreed to refer disputes to arbitration. The case, Shyam Sunder vs Narotham Rao, arose from disputes over sale and purchase of shares of a cement company among the directors. The court stated that the words mediators/arbitrators were used in a “loose” sense. The two