Ramji Dayawala & Sons (P) Ltd vs Invest Import on 9 October, 1980
The fourth authority relied upon by Mr. Chinoy, namely, Ramji Dayawala & Sons (P) Ltd. v. Invest Import lays down that when parties by contract agree to arrange for settlement of their disputes by a Judge of their choice, by procedure of arbitration voluntarily agreed upon, ordinarily the Court must hold the parties to their bargain. But the Apex Court has further gone on to say........ "However, this is not an absolute rule. Granting or refusing to grant stay is still a matter within the discretion of the Court".