1. By this petition filed under Section 37 of the Arbitration and Conciliation Act, 1996 (for short herein after referred as Arbitration Act 1996), petitioner seeks to challenge an order dated 16th July 2012 passed by the learned arbitrator granting interim measures in favour of the respondents under Section 17 of the Arbitration Act 1996. Some of relevant facts for the purpose of deciding this petition are as under.

2. Some time in the year 1973, the sole proprietary concern of Mr Prakash Mehra i e. Prakash Mehra Production (for short PMP) produced a film ''Zanjeer''. The respondents herein and Mr Amit Mehra are the sons of late Mr Prakash Mehra.

3. On 24th August 2011, the petitioner entered into a Coproduction Agreement for remake of the said film 'Zanjeer' with Flying Turtle Films (FTF) and started working on the script of the remake. In the recitals at page 22 of the said agreement entered into between the petitioner and M/s FTF, it was recorded that the petitioner had represented to FTF that it holds the rights to remake and was desirous of remaking a motion picture viz. ''Zanjeer''. It was recited that the rights of the said film were earlier with the renowned fil