1. By consent of parties both the petitions are heard together and are being disposed of by the common order. By these two petitions filed under section 9 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as “Arbitration Act”), petitioner seeks appointment of Court receiver and injunction in respect of various properties of the respondents.

2. Some of the relevant facts which emerge from the pleadings and documents filed by the parties and which are relevant for the purpose of deciding these two petitions are as under:

(a) Respondent No.1 to 4 are the erstwhile promoters and shareholders of the company Welspun Projects Ltd (Formerly known as MSK Projects (India) Limited), (hereinafter referred to as “said company”). Respondent nos.1 to 4 were desirous of disposing of their entire share holding of the said company and petitioner agreed to purchase the same. On 18th March, 2010, petitioner and respondent nos.1 to 4 entered into a share purchase agreement. By the said Purchase Agreement (for short “said SPA”), petitioner agreed to purchase 47,32,545 shares in the said company from respondent nos 1 to 4 for the total consideration of Rs.62,01,81,022.50/-. Peti