IvyCap Ventures Advisors Private Limited v. PurpleFirst Technologies Private Limited
Arbitration – Interim relief – Section 9, Arbitration and Conciliation Act, 1996
Case brief
What is this about?
Bombay High Court, OOCJ; Commercial Arbitration Petition (CARBP) No. 600 of 2025; IvyCap Ventures Advisors Pvt. Ltd. v. Purple First Technologies Pvt. Ltd. & Ors.; Section 9 petition under the Arbitration and Conciliation Act, 1996 treated as Section 17 application after constitution of Arbitral Tribunal; first procedural meeting August 18, 2025; 391 equity shares of R N Chidakashi Technologies Pvt. Ltd.; no transfer or third-party rights assurance before Tribunal convenes; interlocutory arrangements left to Arbitral Tribunal; petition finally disposed of, pleadings to continue before Tribunal; Somasekhar Sundaresan, J.; August 8, 2025.
What did the court decide?
Petition finally disposed of with observations; pleadings in the Petition to be continued before the Learned Arbitral Tribunal; the court recorded the Respondent counsel's instruction-based assurance of no transfer of, or creation of third-party rights over, the 391 equity shares of R N Chidakashi Technologies Pvt. Ltd. before August 18, 2025, and left interlocutory arrangements to the Arbitral Tribunal; all actions pursuant to the order to be taken upon receipt of a downloaded copy from the Court's website.