VIPIN SANGHI
STRATEGIC CREDIT CAPITAL PRIVATE LIMITED – Appellant
Versus
JAROLI VINCOM PRIVATE LIMITED – Respondent
VIPIN SANGHI, J.
1. The aforesaid applications have been filed by ICICI Bank Limited, firstly, to seek impleadment as a party defendant in the present suit and, secondly, to seek vacation/ clarification of the ex-parte ad-interim order of injunction dated 29.09.2015 passed by this Court in the plaintiff’s application, i.e. I.A. No.20390/2015 under Order XXXIX Rules 1 & 2 CPC. By the said order dated 29.09.2015 which continues in force till date this Court restrained the defendants “from, in any manner, taking any action which would dilute or lessen the security margin against the shares to an amount of less than 45% of the loans advanced by the plaintiffs to defendant Nos. 1 to 9 and are further restrained from altering the shareholding structure and share capital structure of defendant No.10.”
2. To understand the controversy arising in the present suit and the case of the applicant ICICI Bank Limited, the relevant background facts may first be taken note of.
3. The case of the plaintiffs, in short, is that a few major investor shareholders were seeking to exit from the defend
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