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24-EXA-1226-2016.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION

EXECUTION APPLICATION NO. 1226 OF 2016

WITH

INTERIM APPLICATION (L) NO. 239 OF 2026

WITH

INTERIM APPLICATION (L) NO. 241 OF 2026

Digitally

signed by

SHRADDHAS KH AMRA LD ED SHHA WITH

KAMLESH TALEKAR

TALEKAR Date:

2026.02.09 INTERIM APPLICATION (L) NO. 26271 OF 2024

22:08:54

+0530

WITH

INTERIM APPLICATION (L) NO. 26287 OF 2024

WITH

INTERIM APPLICATION (L) NO. 26275 OF 2024

WITH

INTERIM APPLICATION (L) NO. 237 OF 2026

WITH

INTERIM APPLICATION (L) NO. 238 OF 2026

IN

EXECUTION APPLICATION NO. 1226 OF 2016

Rahul H Bajaj …Applicant

Versus

Satco Capital Markets Ltd …Respondent

Ms. Sonal a/w. Mr. Vaibhav Singh and Vivek Sharma i/b M/s.

Das Associates, for Applicant in IAL-240-2026 & other IAs.

Mr. Amogh Joshi (through VC) a/w. Mr. Akshay Arora, for

Respondent No. 1.

Mr. Indresh Rathod i/b M/s. P.D. Jain & Co., for Respondent No.

1 in IAL-237-2026.

Ms. Apoora Kulkarni i/b SSB Legal and Advisory, Respondent

No. 2 in IAL-26287-2024.

Mr. Ishan Agarwal a/w. Mr. Kush Khandelwal, Ashutosh Mishra

i/b Nyaayam Associates LLP-Respondent No. 3 (NCL) in IAL-

26271-2024.

Mr. Divyanshu Gupta i/b M/s. Parinam Law Associates,

Respondent No. 2-NSE.

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CORAM : MADHAV J. JAMDAR, J.

Date : 4^th February, 2026

PC :

INTERIM APPLICATION (L) NO. 239 OF 2026

1. The Interim Application (L) No. 239 of 2026 has been filed

by the Execution Applicant inter alia seeking the following reliefs :

(a) this Honorable Court be pleased to direct Respondent No. 2 to

disclose the interest accrued on the sum of Rs. 74,21,746/- of

Respondent No. 1 lying with it;

(b) attach the deposits/monies amounting to Rs. 74,21,746/- of

Respondent No. 1 lying with Respondent No. 2 by restraining

Respondent No. 2 from giving it over to Respondent No. 1.

2. Ms. Sonal, Learned Counsel appearing for the Execution

Applicant points out paragraph Nos. 3 to 10 of the Interim Application

(L.) No. 239 of 2026, which read as under :

“3. The Applicant states and submits that under the Award dated

30th September, 2014 passed by the learned Sole Arbitrator, the

Respondent No. 1 was inter alia directed to: (i) deliver 1,50,000

shares of Amara Raja Batteries Limited to the Applicant within a

period of 120 days from the date of the Award, along with all benefits

accrued thereon from the date of the claim till delivery of the said

shares; (ii) pay interest at the rate of 12% p.a. on the accrued

dividend of 10,000 shares of Amara Raja Batteries Ltd. (or their

equivalent number of shares after issuance of bonus or split of the

said shares) to the Applicant; and (iii) pay dividend of Rs. 19,83,500/-

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and interest thereon at 12% p.a. to the Applicant from the respective

effective dates of accruement. The Applicant submits that the said

Arbitral Award dated 30th September, 2014 passed by the Learned

Sole Arbitrator Mr. Shailesh Shah has been annexed to the Execution

Application No. 1226/16.

4. Being aggrieved by the Award dated 30th September, 2014,

Respondent No. 1 instituted and pursued all the permissible legal

proceedings challenging the same which culminated in the

proceedings filed by it in the Honorable Apex Court. The Applicant

submits that the said Arbitral Award stood confirmed once the

Honorable Supreme Court of India dismissed the Special Leave

Petition No. 12809/24 filed by Respondent No. 1 challenging the

judgment passed by the Division Bench of this Honorable Court. The

Division Bench of this Honorable Court had affirmed the said Award

vide its Order dated 15th April, 2024.

5. During the pendency of the said challenge initiated by

Respondent No. 1 against the said Award, this Honorable Court had

directed Respondent No. 1 to deposit a sum of Rs. 70,00,000/- with the

Prothonotary & Senior Master vide it