Rajiv Shakdher, J.

I.A. No.291/2019

Prefatory facts:

1. The applicants before me are plaintiffs in a suit instituted by them for declaratory and permanent injunctive reliefs. In effect, the reliefs sought against the defendant both in the suit and the interlocutory application is to injunct the defendant from commencing arbitration proceedings.

1.1 The defendant, it appears, seeks to commence arbitration proceedings for claiming “incentive payments” under Clause 14 of the Securities Purchase Agreement dated 19.9.2012 (in short 'SPA'). The plaintiffs via this suit and/or the instant interlocutory application seek to resist the arbitration action initiated by the defendant on the plea that it is, inter alia, barred by res judicata.

1.2 It is the plaintiff's stand that the controversy with respect to the reliefs which were claimed or could have been claimed was set at rest between the parties herein, which included its parent company, that is, NCC Limited (in short 'NCC') by virtue of an earlier award dated 24.1.2018.

2. For the sake of convenience, hereafter, I would be referring to the parties in the following manner:

2.1 Plaintiff No.1, that is, Himachal Sorang Power Private Lim