1. The question in the present Notice of Motion is, whether, having regard to the Plaintiff’s case in the suit herein as noted below, the Defendant should be restrained by a temporary injunction (a) from prosecuting its Original Application pending in the DRT at the date of the present suit against the Plaintiff and (b) from taking any step under and/or relying upon the Deed of Indemnity and the Deed of Hypothecation, of which cancellation is sought by the Plaintiff in the present suit.

2. The Plaintiff provided some equipment on lease to Subhiksha Trading Services Pvt. Ltd. (‘Subhiksha’) under a Master Rental Agreement (‘MRA’) for a lease rent and on terms and conditions set out therein. The MRA inter alia provided that at the end of the lease period the equipment was to be returned to the Plaintiff. The MRA also provided that in the event of default by Subhiksha in payment of rent the Plaintiff had the right to repossess the equipment. During the subsistence of the MRA, the Plaintiff and Defendant entered into a Sale of Receivables Agreement (‘SRA’) under which the receivables from Subhiksha were assigned to the Defendant together with all legal, equitable and beneficial