O R D E R

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INKEL, a Public Private Partnership Company promoted by the Government of Kerala, is the petitioner in both the Arbitration Requests.

2. The petitioner states that M/s.Seguro Foundations and Structures Private Limited (hereinafter referred to as 'M/s.Seguro', for brevity) was managed by Mr. Rajeev C. Vijayan, who was the Managing Director, his wife Ms.Seena Rajeev and Mr. P.J. Jacob who were the shareholders of M/s.Seguro. Mr. P.J. Jacob is the respondent in AR No.48/2021. Mr.Rajeev C. Vijayan and Ms. Seena Rajeev are the respondents in AR No.49/2021.

3. The petitioner-INKEL Limited acquired 65% shares in M/s.Seguro as per an agreement dated 08.11.2017, share purchase agreement dated 08.11.2017 and share subscription and shareholders agreement dated 16.11.2017. Even after acquiring 65 shares by the petitioner, Mr. Rajeev C. Vijayan, the 1st respondent in AR No.49/2021 was appointed as the Managing Director. Ms. Seena Rajeev was appointed as Additional Director.

4. Disputes arose between the petitioner and the respondents regarding over valuation of M/s.Seguro's shares for investment by INKEL. Information pertaining to amount receivables by M/s.Seguro was suppressed