Iifl Finance Limited v. Bajaj Handloom
Case brief
What is this about?
Commercial Arbitration Petition 760 of 2025; IIFL Finance Limited v. Bajaj Handloom and Ors.; Bombay High Court OOCJ; interim measures pending arbitration; prayer clause (A); prayer clause (G); debit freeze of bank accounts; PAN-linked account freeze (DBUPB684 11; GWPPM5599P); facility Agreement dated 8 April 2024; EMI default / stopped paying EMI; outstanding loan; 90-day validity; commencement of arbitral proceedings; unopposed petition; disposed of 27 March 2026; Sandeep V. Marne, J.
What did the court decide?
Continuation of interim measures in terms of prayer clauses (A) and (G) pending the Arbitral Proceeding and till making the final Award; measures to remain in force for 90 days, before expiry of which the Petitioner must take steps to commence arbitral proceedings. Prayer clause (G) comprises a debit freeze of all bank accounts of the Respondents, including those linked with PAN Number DBUPB684 11 and PAN Number GWPPM5599P.