As per the case facts, Gujarat Composite Limited appealed decisions by the High Court that rejected its requests to refer a dispute to arbitration under the Arbitration and Conciliation Act. ... The dispute centered on a tripartite agreement where a bank was a crucial party. The lower courts ruled that arbitration could not proceed effectively without the bank's participation, leading to the appeal to the Supreme Court. The question arose whether the dispute was arbitrable, specifically if arbitration could proceed effectively without the presence of an essential party like the bank in a tripartite agreement, and whether the Commercial Court and High Court were correct in declining the reference to arbitration. Finally, the Supreme Court upheld the decisions of the Commercial Court and the High Court, confirming that their refusal to refer the matter to arbitration was correct. It emphasized that an effective arbitration award could not be achieved without the bank, a primary party to the tripartite agreement. The appeals were consequently dismissed.