JUDGMENT:

1. By this petition, this Court is called upon to interpret a Term Sheet executed between the parties, in order to examine as to whether the findings rendered by the learned Arbitrator while refusing interim reliefs under Section 17 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the “Arbitration Act”), deserve to be interfered with, while exercising jurisdiction under Section 37(2)(b) of the Arbitration Act.

2. The aspects that arise for consideration include the scope of jurisdiction exercised by this Court under Section 37(2)(b) of the Arbitration Act and the true purport and nature of the Term Sheet, based upon interpretation of its various clauses.

3. The facts leading up to filing of the present petition are that the petitioner (original claimant), being a healthcare service provider, showed interest in the respondents selling their majority shareholding in respondent No. 2. The petitioner – Max Healthcare Private Limited is a healthcare service provider, while respondent No. 2 – Quality Care India Limited owns and operates Care Hospitals. Respondent No. 1 – Touch Healthcare Private Limited holds 96.94% of shareholding of respondent No. 2 and