JUDGMENT :

G. GIRISH, J.

1. This original petition is filed under Sections 2(1)(e), 2(2) and Section 9 of the Arbitration and Conciliation Act, 1996 (for short ‘the Act’) for an interim injunction restraining the respondent and his men or agents from alienating or encumbering the petition schedule properties or creating any document or conveyance in respect of those properties before the satisfaction of the Arbitral Award dated 30.01.2023 in S.C.C. Arbitration V2020/199 of the Arbitral Tribunal, Sweden.

2. The 1st petitioner is a joint stock company incorporated under the laws of Sweden, and the 2nd petitioner is its parent company. The respondent was the erstwhile Managing Director of the 2nd petitioner company who resigned from the directorship of the said company following allegations of misappropriation. It is stated that when the petitioner companies initiated criminal prosecution against the respondent, he approached the petitioner companies and requested to dispense with the criminal prosecution in return for his offer to resign from all the designated posts of the companies and to pay the amount misappropriated immediately. However, the respondent, as claimant, is said to have