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