The court emphasized that the present proceedings were not concerned with the rights asserted by MGF under the Scheme of Demerger or any subsequent agreements, and that MGF should initiate independent proceedings to assert its rights.

JUDGMENT

Sachin Datta, J.

I.A. Nos. 2935/2020, 14881/2022 & 7896/2023 in O.M. P. 135/2010

Factual Background

1. The present petition i.e. O.M.P. 135/2010 was filed by the petitioner under Section 9 of the Arbitration & Conciliation Act, 1996 being aggrieved by the alleged illegal termination notice dated 02.03.2010 issued by the respondent no.1 in respect of the Collaboration Agreement dated 21.08.2006 executed between the petitioner and the respondents. The prayers sought in the petition were as under:

"a. pass an order of injunction in favour of the petitioner and against respondent no.1 staying the termination notice dated 02.03.2010 and restraining respondent no. 1 from taking any steps pursuant to the said letter of termination, till the passing of the arbitral award in the arbitration proceedings;

b. pass an order of injunction in favour of the petitioner and against the respondents, restraining the respondents or any person claiming through or under them from in any manner whatsoever, directly or indirectly acting in breach of the Collaboration Agreement or from creating any third party rights in the Project Land or from parting with possession of the Project Land in favour of any third party, till the passing of the arbitral award in the arbitration proceedings;

c. pass an order of injunction in favour of the petitioner and against the respondents, restraining the respondents or any person claiming through or under them from in any manner whatsoever, directly or indirectly, dealing with the Project Land or from entering into any kind of agreement / arrangement with any third party in relation to or in connection with the Project Land, till the passing of the arbitral award in the arbitration proceedings;

d. appoint a local commission to visit the Project Land and to submit his report to this Hon'ble Court with respect to the status of possession thereof;

e. pass ad interim ex-parte orders in terms of prayers (a), (b), (c) and (d) above in favour of the petitioner and against the respondents;

f. grant costs of the present proceedings and of those incidental thereto in favour of the petitioner and against the respondents."

2. Vide order dated 05.03.2010, the respondents were directed to maintain the status quo with regard to the title and possession of the land covered by the aforesaid agreement dated 21.08.2006.

3. Vide order dated 12.05.2010, it was recorded, inter-alia, as under:

"It is agreed between the parties that the title deed with respect to 49 acres of land mentioned in Schedule 3 of the Agreement shall be deposited in a locker of a nationalized bank in New Delhi. The said locker shall be operated jointly by both the parties. In case any of the parties wants to access the title deed, prior leave of this Court will be sought."

4. The present petition [O.M.P. 135/2010] itself was disposed of vide order dated 27.09.2010 taking note of the fact that the arbitration proceedings between the parties were underway.

5. The arbitration proceedings between the parties are now stated to be at an advanced stage and on the verge of culmination.

6. In view of the aforesaid order/directions of this Court, regarding deposit of title deeds/documents of the project land in question in a bank locker, the said title deeds came to be eventually deposited in a locker at the State Bank of India, Parliament Street branch. The said bank locker was directed to be jointly operated by Mr. Rakshit Jain, Authorized Representative of the petitioner company and Mr. Vikram Bhatnagar, being one of the respondents [respondent no.4] and also the authorized representative of other respondents.

7. I.A. No. 2935/2020 came to be filed by the petitioner on the averment that Mr. Rakshit Jain has left the employment of the petitioner company and was not providing any assistance in operating the bank locker where the title deeds were kept. The prayers sought in I.A. No. 2935/2020 are as under:

"a) Allow the present application and direct the State Bank of I