JUDGMENT

S.C. Gupte, J. - Heard learned Counsel for the parties.

2. These commercial appeals challenge an order passed by a learned Single Judge of this court under Section 9 of the Arbitration and Conciliation Act, 1996 ("Act"). By the impugned order, the learned Judge has granted interim relief to the Respondent herein (original petitioner) in terms of prayer clause (b)(i) of the Commercial Arbitration Petition, which requires the Appellants herein to deposit in court Rs.59,51,08,633/- viz. An amount of Rs.44,63,71,671 in the case of Jagdish Ahuja & Anr. and an amount of Rs.14,87,36,936/- in the case of Shree Ahuja Properties & Realtors Pvt. Ltd.

3. The Respondent herein is a Cyprus based company. The Appellant in the companion appeal (COAPP No.11 of 2020) - Shree Ahuja Properties & Realtors Pvt. Ltd., an Indian company, carrying on real estate development business, issued fully convertible debentures (FCDs), which were subscribed to by the Respondent. The appellants in this appeal (COAPP No.12 of 2020) are promoters of this Indian company. Between December 2012 and January 2015, the Appellants purchased all FCDs of the Indian company held by the Respondent in different tranches.