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2014 Supreme(Bom) 1346

R.D.DHANUKA
L & T Finance Limited – Appellant
Versus
Saumya Mining Ltd – Respondent


Advocates:
Advocate Appeared
Mr. Anand Poojary along with Ms. S.I. Joshi along with Nikhita Pawar along with Manish Gala i/by M/s. S.I. Joshi & Co. for petitioners.
Mr. Ayush Singhvi i/by Rohit Das & Associates for respondent nos. 1 and 2.

ORAL JUDGMENT

Petitioner has filed these four petitions under section 9 of Arbitration and Conciliation Act, 1996 for interim measures. The respondents have raised various issues which are common in all the four matters. By consent of parties, all the four matters are heard together and are being disposed of by a common order.

2. Some of the relevant facts of the above four matters are as under :

Arbitration Petition No. 290 of 2014

(a) Respondent no. 1 is borrower. Respondent no.2 is a guarantor to the loan obtained by respondent no.1. The respondent no. 3 and 4 are the debtors of respondent no. 1 and 2 and have been joined as parties to secure the claim of the petitioner against respondent no. 1 and 2.

(b) On 31st December, 2011 the petitioner and the respondent no. 1 and 2 entered into a loan agreement. Petitioner granted loan of Rs.28,35,000/- to the respondent no. 1 and 2 on the terms and conditions described in the said agreement. Respondent no. 1 executed demand promissory note on 31st December, 2011 in favour of the petitioner promising to pay the said loan to the petitioner for value received with interest. On 31st December, 2011 respondent no. 1 executed a deed of hypothec








































































































































































































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