SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

2015 Supreme(Del) 735

V.KAMESWAR RAO
VLS Finance Ltd. – Appellant
Versus
Bms It Institute Private Limited – Respondent


Advocate Appeared:
For the Petitioner:Jayant K. Mehta, Nikhil Rohtagi, Saurabh Dev, Karam Singh, Sumit Khosla, Ashok Kumar Sharma, Advocates
For the Respondents:R2, R3 & R10, Anil Airi, Ravi Krishan Chandna, Sadhna Sharma, Aman Madan, Gaurav Seth, R4 to R9, Ashish Aggarwal, Arjun Sehgal, R11 & R12, A.K. Singla, Senior Advocate with Amit Saxena, Harsh Shahi, Advocates.

JUDGMENT :

1. The present petition is filed under Section 9 of the Arbitration & Conciliation Act, 1996 (‘Act’ in short) seeking the following reliefs:-

“(i) Direct the Respondent Nos. 2 to 10 to jointly deposit in a no lien interest bearing account in a scheduled bank a sum of Rs.93,62,77,987/- as security for the amount awarded under the award dated 02.03.2015;

(ii) Alternatively to prayer (i), direct the Respondent Nos. 2 to 10, jointly and severally, to furnish a bank: guarantee from a scheduled bank for a sum of Rs.93,62,77,987/- and direct them to furnish further bank guarantees monthly to secure the interest accrued on the awarded amount each month until execution of the award dated 02.03.2015;

(iii) Restrain the Respondent Nos. 2 to 10 from dealing with any of their movable and immovable properties as mentioned in Annexures P-4 (Colly), P-6 (Colly) and P-11 (Colly) including, in particular, those set out in paragraph 22 of the petition pending execution of the award dated 02.03.2015;

(iv) Restrain the Respondent No.12 from creating any kind of third party rights or encumbra



















































































Click Here to Read the rest of this document

1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top