Mahindra and Mahindra Financial Services Ltd. v. Tool Craft Industries
Case brief
What is this about?
Section 9 Arbitration and Conciliation Act 1996; pre-arbitration interlocutory protection Bombay High Court OOCJ; ad interim relief granted ex parte with respondents absent despite service; entry upon premises and possession of hypothecated machinery with police assistance; “STM BRAND CNC VERTICAL MACHINING CENTER”; loan default; notice dated December 21, 2024; service affidavit dated July 2, 2025; claimed dues Rs. 45,83,195.71/-; Agreement dated March 23, 2023; Clause 24.11 arbitration clause; Mahindra and Mahindra Financial Services Ltd v Tool Craft Industries & Ors; ARBITRATION PETITION (L) NO. 6690 OF 2025; ARBITRATION APPLICATION NO. 144 OF 2025; Somasekhar Sundaresan J; listed July 30, 2025.
What did the court decide?
Ad interim relief granted in terms of prayer clause (f): the Petitioner or its representatives may enter upon the Respondents' premises and take possession of the hypothecated machinery (“STM BRAND CNC VERTICAL MACHINING CENTER”) with police assistance if required, such reliefs applying pending consideration of further interim relief by the Arbitral Tribunal to be constituted; Respondents left free to seek variation/alteration/vacation before the Arbitral Tribunal; proceedings listed after four weeks, i.e. on July 30, 2025.