R. Banumathi, J. And K.K. Sasidharan, J.

Introductory:- Whether the Share Purchase Agreement entered into between the Appellant, along with its subsidiary companies, with the Respondent, on the basis of the original as well as modified Memorandum of Understanding (MOU) for the purpose of acquiring the property purchased by the Appellant in the name of its subsidiaries viz., Nile and Vaigai, by way of share transfer, instead of executing sale deeds and registering them before the Registration Department (with a view to avoid stamp duty) are linked and interconnected, so as to enable the Appellant to make use of the provision for arbitration incorporated in the MOU and to approach the Court for interim measure of protection under Section 9 of the Arbitration and Conciliation Act is the core issue that arises for our consideration in this intra- court appeal.

2. Brief facts:- The Respondent-Puravankara Projects Limited and Appellant-Galaxy Properties Private Limited entered into a Memorandum of Understanding dated 22.11.2006 (‘MOU’) for a project of acquiring 1000 acres of lands from Appellant Company. Under the MOU, Respondent agreed to acquire 1000 acres from the Appellan