JUDGMENT

% 08.11.2021

1. This appeal, under Section 37(2)(b) of the Arbitration and Conciliation Act, 1996, assails order dated 8^th June, 2020, passed by the learned Arbitrator, in two cases pending before him. The claimants before the learned Arbitrator are the respondents in the present appeal, and the respondent before the learned Arbitrator is the appellant herein.

2. Respondents 2 to 5 are directors of Respondent 1, and signatories to the Pledge Agreements dated 31^st March, 2017 and 12^th June, 2017, executed with the appellant.

Facts

3. The Contractual Documents:

3.1 The contractual relationship between the parties to the present appeal revolves around two Loan Agreements and four Pledge Agreements, dated 31^st March, 2017 and 12^th June, 2017, and an Escrow Agreement dated 31^st May, 2017. The two Loan Agreements were between the appellant and Respondent 1, the four Pledge Agreements were between the appellant and Respondents 2 to 5, each agreement being executed between the appellant and one of the respondents. The Escrow Agreement was between the appellant, Respondent 1 and M/s IndusInd Bank Ltd. (“the Bank”), which was the Escrow Agent.

3.2 Respondent 1 is the owner of the Radisson