JUDGMENT

Sanjeev Narula, J. - I.a. 17608/2021(by the Plaintiff u/O. XXXIX Rule 1 & 2 of the Code of Civil Procedure, 1908 seeking ad interim ex-parte temporary injunction against Defendant No. 1)

1. Defendant No. 1, was employed as 'senior vice-president' in the Plaintiff-company through a Letter of appointment dated 15th June, 2018. In September, 2019, the Plaintiff introduced 'arshiya Limited Employee Stock Option Scheme 2019' for its employees [hereinafter, 'ESOP Scheme'], under which, Plaintiff offered 7,50,000 stock Options [hereinafter 'Options'] to Defendant No. 1 on 30th January, 2020. Each Option entitled Defendant No. 1 to acquire one equity share at a price of Rs. 2/- per share or any other price as determined by the Plaintiff. Defendant No. 1 accepted the Options vide letter dated 30th January, 2021. Consequently 7,50,000 shares were allotted to Defendant No. 1 with the approval of Board of Directors of the Plaintiff company vide Resolution dated 10th February, 2021.

2. Subsequently, Plaintiff allegedly found Defendant No. 1 to be in breach of his terms of employment