1. Arbitration Appeal No. 8 of 2015 by BPTP Ltd. (‘BPTP’) is directed against an order dated 5th January 2015 passed by the Appellate Tribunal (‘AT’) in an application filed by CPI India I Ltd. (‘CPI’) under Section 17 of the Arbitration and Conciliation Act, 1996 (‘Act’). By the said interim order the AT directed BPTP to deposit a sum of Rs.251.2 crores in an escrow account.

2. OMP No. 79 of 2015 is a petition filed by CPI under Section 9 of the Act seeking interim reliefs against BPTP and 24 others.

3. Since both the appeal and the petition arise out of a common set of facts, they are being disposed of by this common judgment.

4. At the outset it requires to be noted that there have already been several rounds of litigation between the parties prior to and during the course of the arbitration proceedings involving them and which is still in progress.

Background facts

5. The background facts are that CPI is a company incorporated under the laws of Mauritius. It invested a sum of Rs.322.5 crores in BPTP by subscribing to 5.67% of its paid up equity capital. BPTP is a real estate development company engaged, inter alia, in constructing residential and commercial real estate proje