JUDGMENT

Jyoti Singh, J. - Both these petitions have been filed under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "Act") seeking interim reliefs. Prayers sought in OMP (I) (COMM) 460/2018 are as under:-

"(a) Direct the Respondents to furnish security to a tune of USD 34,723,013 being the Offshore Supply Price, by way of an unconditional and irrevocable bank guarantee in favour of the Petitioner pending the completion of arbitration proceedings and making of the Award; or

(b) In the alternative, direct the Respondents to furnish security by depositing a sum of USD 34,723,013 being the Offshore Supply Price, before this Hon''ble Court pending the completion of arbitration proceedings and making of the A ward; and

(c) Grant an order of temporary injunction restraining the Respondents, their respective directors, servants, officers and/or agents from in any manner directly and/or indirectly, voluntarily and/or involuntarily, transferring, conveying, alienating, dealing with, creating third party rights and/or otherwise encumbering the Project, including the land, plants, equipment and machinery and other articles at the site where the Project is situated pending the hearing and final disposal of the Petition and during the arbitration completion of arbitration proceedings and making of the Award; and

(d) Grant an order of temporary injunction restraining Respondent nos.2, 7 and 8 from transferring, disposing off, creating a charge and/ or encumbering, in any manner, their shares and other securities held by them directly and/ or indirectly in Respondent nos.1,3,4,5 and 6 pending the hearing and final disposal of the Petition and during the arbitration completion of arbitration proceedings and making of the Award; and

(e) Grant an order of temporary injunction restraining Respondent no.4, from transferring, disposing off, creating a charge and/ or encumbering, in any manner, its shares and other securities held by it in Respondent nos. 1 and 5 pending the hearing and final disposal the Petition and during the arbitration completion of arbitration proceedings and making of the Award; and

(f) Grant an order of temporary injunction restraining Respondent nos.3 ,5 and 6 from transferring, disposing off, creating a charge and/or encumbering, in any manner, the shares and other securities held by them in Respondent nos. 4, 6 and 1, respectively, pending the hearing and final disposal of the Petition and during the arbitration completion of arbitration proceedings and making of the Award; and

(g) Grant ex-parte ad interim relief in terms of the above; and

(h) Award the cost of this Petition to the Petitioner; and

(i) Pass such further and other reliefs as the nature and circumstances of the case may require in the interest of justice and equity."

2. With minor differences in the facts and dates of the documents, the two petitions involve common issues and questions of law and are being decided by a common judgment. Minor differences in the facts of the two cases will be detailed in the later part of the judgment. However, for the sake of convenience, facts and documents in OMP (I) (COMM) 460/2018 are being referred to.

3. Facts, as averred, on behalf of the Petitioner in OMP (I) (COMM) 460/2018 are that Petitioner is a Company incorporated under laws of United Arab Emirates ca