Aditya Birla Finance Limited v. Madansinh Gunwantsinh Punvar
Case brief
What is this about?
Section 9 Arbitration and Conciliation Act 1996 interim relief; Bombay High Court OOCJ; Somasekhar Sundaresan J.; Aditya Birla Finance Limited v Madansinh Gunwantsinh Punvar; ARBP 285/2024; loan default January 5 2024; loan recall-cum-invocation notice February 23 2024; Loan Agreement November 28 2022; asset disclosure affidavit movable immovable bank accounts PAN ANMPP8884A; debts and receivables disclosure affidavit; P&L and balance sheet last three financial years; security bank guarantee deposit INR 32,84,175; respondent non-appearance ex parte; ad-interim relief pending Arbitral Tribunal; stood over April 2 2025 Post Notice Matters.
What did the court decide?
Ad-interim reliefs in prayer clauses (a), (b), (f) and (g) granted pending further interim relief by the Arbitral Tribunal: (a) affidavit disclosing movable and immovable assets and all bank accounts (including accounts linked with PAN No. ANMPP8884A) within 2 weeks; (b) affidavit disclosing debts and receivables payable by third parties to the Respondent within 2 weeks; (f) disclosure of P&L and balance sheet of the last three financial years within 2 weeks; (g) security for the outstanding amount of INR 32,84,175.00 as on 21 February 2024 within two weeks, by bank guarantee in favour of the Petitioner or deposit in the Hon'ble Court. Respondent may appear on the next date to present its say for varying/altering/vacating the ad-interim relief; Advocates for the Petitioner to serve a copy of the order on the Respondent. Petition stood over to April 2, 2025 under the caption 'Post Notice Matters'.