1. The Petitioner is a Company incorporated in the U.K. and is stated to be a group company of Dallah Albaraka Investment Company Limited (DAICO). The First Respondents (“POLARIS and FALCON”) in both the Company Petitions are Joint Venture Companies.

2. Captain Mehernoosh Khajotia owned a Shipping Company by the name of Constellation Shipping (Bahamas) Ltd. Some time prior to 2000, the Company was financed by DAICO for acquiring five marine shipping vessels. According to the Petitioner, the loans of three vessels were repaid. The outstanding debt of Constellation was US $ 2.5 million. In 2000, Mehernoosh Khajotia is stated to have approached DAICO to invest in his Company for the acquisition of two vessels in order that the return of investment could be applied towards the repayment of the debt due from Constellation Shipping.

3. On 14th November 2000, a Shareholders' Agreement (SHA) was entered into, in respect of Falcon Marine Management Pvt.Ltd (Falcon), the First Respondent to Company Petition 724 of 2008, between the Petitioner and Polaris which was then owned completely by the Khajotia family. The Shareholders' Agreement provided that the Petitioner and Polaris woul