MANMOHAN SINGH, J.

1. By way of this common order, I propose to decide the above mentioned two petitions by Kal Airways Pvt. Ltd., the petitioner in OMP (I)(Comm) No.71/2016 and Mr.Kalanithi Maran, the petitioner in OMP(I)(Comm) No.72/2016 filed under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as the “Act”).

2. The Petitioner Kalanithi Maran was a Director and non-executive Chairman of Spicejet Limited- respondent No.1 (a company incorporated under the Companies Act, 1956 having its registered office at Indira Gandhi International Airport Terminal 1D, New Delhi-110037 and corporate office at 319, Udyog Vihar, Phase-IV, Gurgaon-122016, Haryana) (hereinafter referred to as the "Company") which is a public listed company engaged in the business of scheduled airline services, international airline services, etc. under the brand name "Spicejet".

3. The relief claimed in OMP (I) (Comm) 71/2016 reads as under:

“a. pass an ad-interim ex-parte order restraining Respondent No.1 and Respondent No.2 from allotting/ transferring/issuing/ alienating and/or creating any third party interest and/or encumbrance on any shares of the Company;

b. pass an ad-interim ex-parte order directing the Respondents to deposit a sum of Rs. 835,00,00,000/- (Rupees Eight Hundred and Thirty Five Crores only)in the Court i.e. the value of the shares due to the Petitioner against the Warrants and CRPS shares;

c. pass an ad-interim ex-parte order attaching the bank accounts of the Respondents bearing Nos. 000705011602 held in ICICI Bank Ltd, 9A Phelps, Connaught Place, New Delhi-110001, 000381400002337 held in Yes Bank, 11/48, Shopping Centre, Malcha Market Chanakyapuri, New Delhi- 110021, 05860200001369 held in Bank of Baroda, Parliament Street, New Delhi-110001, 04852320000132 held in HDFC Bank Ltd, B-1, Vaniya Kunj, Enkay Tower, Udyog Vihar, Phase V, Gurgoan-122001, Haryana, 50000741832 held in Allahabad Bank, 2nd Floor, 37, B.S. Marg Fort, Industrial Finance Branch, Mumbai- 400023, Ale nos. 0361200001681086, 036109000143003 and 510909010018546 held in City Union Bank Ltd, Keerthis, 67, Mandaveli Street, Chennai- 600028. pending adjudication of the disputes;

d. confirm the above prayers in (a) to (c) above upon hearing the parties;

e. award costs of the present petition to the Petitioners;”.

4. The relief sought in OMP (I) (Comm) 72/2016 reads as under:

“a. pass an ad-interim ex-parte order restraining Respondent No.1 and Respondent No.2 from allotting/ transferring/issuing/ alienating and/or creating -any third party interest and/or encumbrance on any shares of the Company;

b. pass an ad-interim ex-parte order directing the Respondents to deposit a sum of Rs. 250,00,00,000/- (Rupees Two Hundred and Fifty Crores only) in the Court i.e. the value of the shares due to the Petitioner against the Warrants and CRPS shares;

c. pass an ad-interim ex-parte order attaching the bank accounts of the Respondents bearing Nos. 000705011602 held in ICICI Bank Ltd, 9A Phelps, Connaught Place, New Delhi-110001, 000381400002337 held in Yes Bank, 11/48, Shopping Centre, Malcha Market Chanakyapuri, New Delhi- 110021, 05860200001369 held in Bank of Baroda, Parliament Street, New Delhi-11 0001, 04852320000132 held m I-IDFC Bank Ltd, B-1, Vaniya Kunj, Enkay Tower, Udyog Vihar, Phase V, Gurgoan-122001, Haryana, 50000741832 held in Allahabad Bank, 2nd Floor, 37, B.S. Marg Fort, Industrial Finance Branch, Mumbai- 400023, A/c nos. 0361200001681086, 036109000143003 and 510909010018546 held in City Union Bank Ltd, Keerthis, 67, Mandaveli Street, Chennai- 600028. pending adjudication of the disputes;

d. pass an ad-interim ex-parte directing the Respondents to take all necessary steps for compounding the offence under Section 276B of the IT Act.

e. confirm the above