1. By this petition filed under Section 37 of the Arbitration and Conciliation Act, 1996 (for short “the said Act), each of the petitioners has impugned the order dated 5th March 2018 passed by the arbitral tribunal thereby restraining each of the petitioners and its affiliates from transferring, alienating, encumbrance or disposing off any of its assets without specific permission/leave of the arbitral tribunal. The arbitral tribunal has also made it clear that the said impugned order is without prejudice to any order that may be passed by the Board/Courts of competent jurisdiction. It is further made clear that the said order is an interim order and common finding recorded in the said order are subject to final award/order that may be passed by the arbitral tribunal. By consent of parties, all three matters were heard together and are being disposed of by a common order:-

2. Learned senior counsel for the petitioners and the learned senior counsel for the respondent no.1 have argued the Commercial Arbitration (L) No.253 of 2018 as a lead matter and thus the facts of the said matter are summarized in the latter part of this judgment.

3. The respondent no.1 had entered into