The Petitioners in Arbitration Petition No.769 of 2014 which is filed under Section 37 of the Arbitration and Conciliation Act, 1996 have impugned the interim order passed by the learned Arbitrator under Section 17 of the Act and in particular in paragraph44( v) and 44(vi). The petitioner in Arbitration Petition (L) No.1003 of 2014 has also impugned part of the order passed by the learned Arbitrator refusing to direct the respondent to deposit an amount or to provide any other sufficient security in regard to the claim of the petitioner. Both the petitions are heard together and are being disposed of by a common order.

2) On 01/03/2012, the respondents (India Venture Trust) entered into Share Subscription cum Shareholder Agreement and invested 40 Crores in the petitioner company (Tulsi Castings and Machining Limited). The disputes arose between parties. It was the case of the respondents before the learned Arbitrator that the petitioners no.2 and 3 have mismanaged the fund of the petitioner no.1 and have diverted the fund. It was the case of the respondents that though under the Share Subscription and Shareholders Agreement, the respondents exercised the put option and call