JUDGMENT

Effectively, the petitioners have approached this Court seeking protection of the subject matter of the Arbitration between the parties, under Section 9 of the Arbitration and Conciliation Act, 1996 .

2. However, it is unequivocally conceded by learned counsel for the parties today, that the Arbitration proceedings have commenced under the Rules of the Singapore International Arbitration Centre (SIAC).

3. The fact reveals that when these original petitions were considered by this Court, the respondents offered to furnish Bank Guarantee for the value of the subject matter, so as to enable them to sell the same, citing it to be perishable. The Bank Guarantees in question are also thus alive.

4. Obviously, therefore, it will not be prudent for this Court to now entertain the afore original petitions because, the petitioner can certainly move the learned Arbitrator under the Rules applicable for necessary interim protection and interim orders. Concededly, such liberties are embedded to the applicable Rules, as we have Section 17 under the Arbitration and Conciliation Act, 1996 . In fact, both sides affirm the afore and thus pleaded that they be reserved their rights to move th