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2021 Supreme(Bom) 435

S.J.KATHAWALLA, R.I.CHAGLA
ANIKET SA INVESTMENTS LLC, MAURITIUS – Appellant
Versus
JANAPRIYA ENGINEERS SYNDICATE PVT. LTD. , HYDERABAD – Respondent


Advocates Appeared:
For the appellant :Sharan Jagtiani, Senior Advocate along with Ms. Surabhi Agarwal, Vyapak Desai, Alipak Banerjee, Ms. Bhavana Sunder instructed by Nishith Desai Associates
For the Respondent: Mustafa Doctor, with Karthik Somasundaram, Pavan Kumar, Mrs. Shraddha Gupta

JUDGMENT :

S. J. KATHAWALLA, J. :—

BRIEF FACTS :

By this Appeal filed under section 37 of the Arbitration and Conciliation Act, 1996 (“the Act”), the appellant-Aniket SA Investments LLC (original Petitioner) has challenged an Order of the learned Single Judge dated 22nd October, 2019 (“the Impugned Order”). The appellant has filed a section 9 Petition under the Arbitration and Conciliation Act, 1996, seeking urgent interim reliefs in relation to a dispute arising out of a Securities Subscription and Shareholders Agreement. The appellant is a foreign investor and shareholder of respondent No. 2-Janapriya Townships Private Limited, a Special Purpose Vehicle or Joint Venture Company that is carrying out a real estate development project in Ameenpur Village, Medak District in Telangana. The other shareholder of respondent No. 2 is respondent No. 1-Janapriya Engineers and Syndicate Private Limited. The appellant, respondent No. 1 and respondent No. 2 have entered into a Share Subscription and Shareholders Agreement dated 21st August, 2008 (“the Agreement”). The Agreement appears to have been subsequently modified. The appellant, respondent No. 1 and respondent No. 2 have also entered into

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