Iifl Finance Limited v. Balaji Enterprises
Case brief
What is this about?
Section 9 Arbitration and Conciliation Act 1996; ad interim relief pending Arbitral Tribunal; pre-arbitration interim measures; temporary injunction restraining alienation/encumbrance of assets; disclosure of bank accounts and assets on oath; bank guarantee securing outstanding loan with future interest at contractual rates; loan default under Facility Agreement dated February 21, 2024; dissipation of subject-matter of arbitration; ex parte relief absent respondent appearance; Bombay High Court Ordinary Original Civil Jurisdiction CARBP; IIFL Finance Limited v. Balaji Enterprises & Ors.; liberty to file Section 11 application within 30 days.
What did the court decide?
Ad interim reliefs per prayer clauses (A), (B) and (C): temporary injunction restraining sale, transfer, alienation, encumbrance or other dealing with Respondents' assets; disclosure on oath of all bank accounts and assets with encumbrances; and furnishing of a bank guarantee securing the Outstanding Loan Amounts with future interest at contractual rates till realization. Reliefs operate pending consideration by the Arbitral Tribunal; Petition to be listed with the Section 11 Application on November 20, 2025.