$~21 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 20.04.2026 + O.M.P.(I) (COMM.) 80/2026, I.A. 5424/2026 (For Exemption)

& I.A.10741/2026 (For U/Section 9 Read With Order VII Rule 10 Read With Order I Rule 10 Read With Section 151 of The CPC)

GKB HI-TECH LENSES PRIVATE LIMITED & ORS.

.....Petitioners Through: Mr. Amit Sibal and Mr.

Rajshekhar Rao, Senior Advocates along with Mr.

Manu Nair, Mr. Ameya Gokhale, Mr. Renjith Nair, Mr.

Neelabh Shreesh, Mr. Chintan Gandhi, Mr. Aryan Roy, Ms.

Anushka Bhardwaj, Ms.

Aalokaa Verma, Mr. Darpan Sachdeva, Mr. Ankit Handa, Ms. Ramayni Sood and Mr. Harshil Wason, Advocates.

versus ESSILOR INDIA PRIVATE LIMITED & ORS. ...Respondents Through: Mr. Rajiv Nayar, Senior Advocate along with Mr.

Manmeet Singh, Mr. Akash Ray, Mr. Ajay Raj, Ms. Manjira Dasgupta, Advocates for R-1 &

R-7 i/b Cyril Amarchand Mangaldas.

Mr. Ashim Sood, Ms. Palak Nagar and Ms. Senu Nizar, Advocates for R-3.

CORAM:

HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGEMENT (ORAL)

1. The present Petition, filed under Section 9 of the Arbitration and Conciliation Act, 1996, Act, seeks the following ad interim measures against the Respondents:

“…..

a. Stay the effect and operation of the Defect Cure Notice dated 7^th January, 2026 [Document 1]

b. Pass an order in the nature of a temporary prohibitive injunction restraining the Respondents from taking any steps in furtherance of the Defect Cure Notice dated 7^th January, 2026 [Document 1], including any steps mentioned in Clause 10.1 of the Master Settlement Agreement dated 4^th April, 2023 [Document 2] read with the relevant provisions of the Settlement Documents as defined in the Master Settlement Agreement dated 4^th April, 2023 [Document 2]

c. Pass an order in the nature of a temporary prohibitive injunction restraining the Respondent No.1 from causing Signet Armorlite Amera Pte. Ltd. from taking any actions towards termination of the Kodak Lens Distribution Agreement dated 1^st January, 2016 d. Pass an order in the nature of a temporary prohibitive injunction restraining Respondent No.1 from exercising any rights under the Share Pledge Agreement dated 4^th April, 2023 [Document 2], including from invoking the pledge and further, selling, transferring, or otherwise disposing of or creating any encumbrance on any of the Pledged Shares (as defined in the Share Pledge Agreement).

e. Pass an order in the nature of a temporary prohibitive injunction restraining Respondent No. I from presenting the Post Dated Cheques issued in its favour under the Intra Group Dues Payment Agreement dated 4^th April, 2023 [Document 3].

f. Pass an order restraining Respondent No. 1 from enforcement of any security interest created under the Master Settlement Agreement dated 4^th April, 2023 [Document 2].

g. Pass ex-parte ad-interim orders in terms of prayers (a) to (f) above; h. Grant costs of these proceedings to be paid by the Respondents;

and i. Pass any further or other order (s) which this Hon'ble Court may deem fit and proper in favour of the Petitioners, in the facts and circumstances of the case.”

2. The material on record indicates the Master Settlement Agreement dated 04.04.2023, Agreement, entered into between the parties, provides for a dispute resolution clause, being Clause 19 of the Agreement, which stipulates adjudication of any disputes inter se the parties to the Agreement by way of Arbitration. The relevant portion of Clause 19 is reproduced herein under for ready reference:

“19. DISPUTE RESOLUTION

19.1 . Any and all dispute or claims arising out of or related to or in connection with this Agreement regarding its existence, validity or termination shall be solely referred to and finally settled by arbitration in accordance with the arbitration rules of Delhi International Arbitration Centre ("DIAC") ("DIAC Rules"), which are deemed to be incorporated by reference. The seat and venue of arbitration shall be Delhi, India. All arbitration proceedings shall be conducted in the English language and in c