Section 9 petition seeking restraint on alienation of a firm's assets. Since an arbitrator was appointed, the court treated it as a Section 17 application before the arbitrator, continued the earlier interim order till the arbitrator decides, and disposed of the petition.
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Through: Mr. Saurabh Kalia, Mr. Shubham Gupta and Ms. Aastha Agarwal, Advocates.
versus
JATINDER KUMAR JAIN & ANR ......Respondents Through: Mr. Vikram Kumar, Mr. Abhinav Kumar, Ms. Anushka Kumar, Advocates for R-1 and R-2
CORAM: HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD
O R D E R % 21.10.2024
“a) Pass an ad-interim order to direct the Respondents not to sale, transfer, dispose of, alienate, part with or create any third-party interest in any property, assets, rights, interest or intellectual property of the Respondent No. 3 Firm; and or;
b) Pass an order directing Respondent No. 1 and Respondent 2 to withdraw their letter dated 28.03.2024 sent to the banker of Respondent No. 3 Firm;
c) Pass an order directing the Banker of Respondent No. 3 Firm to resume the banking operation of the Respondent No. 3 Firm;
d) Pass an ad-interim ex parte order to restrain the Respondents from altering the capital structure of
This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/10/2024 at 12:01:44
Respondent No. 3 Firm in any manner whatsoever and ore) Grant status quo with respect to the assets (both movable and immovable) of the Respondent No. 3 Firm;
f) Pass such order or further orders as may be deemed fit by this Hon’ble Court in the interest of justice and circumstances of the case.”
SUBRAMONIUM PRASAD, J
OCTOBER 21, 2024 hsk
This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/10/2024 at 12:01:44
1 issue framed by the court
Whether interim protection should be granted for the firm's assets pending arbitration, given that an arbitrator has been appointed.
2 provisions across 1 enactments
Ashish Jain
Jatinder Kumar Jain
Respondent No. 2
Subramonium Prasad
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
