Srei Equipment Finance Limited vs Seirra Infraventure Private Limited

@JUDGMENT-JUDGMENT

The Court : In this application, under Section 9 of the Arbitration & Conciliation Act, 1996, the petitioner seeks an order of injunction and appointment of receiver.

Learned Advocate appearing for the petitioner submits that, the respondent is not paying the lease rentals and that, the agreement stands terminated. There is an arbitration clause. He submits that, until and unless the equipment is protected, the petitioner will suffer irreparable loss and prejudice.

Learned Advocate appearing for the respondent questions the jurisdiction of the Court. He submits that, no part of the cause of action arose within the jurisdiction of this Hon'ble Court. He submits that, there are other matters in which the respondent filed an affidavit disclosing documents to establish that no part of the cause of action arose within the jurisdiction of this Court.

In the fact of the present case, since, there are amounts claimed to be due and payable by the respondent to the petitioner, it would be appropriate to pass an order of injunction in terms of prayer (b) of the petition. The receiver as prayed for is not appointed as this stage given the pandemic situation.

Without prejudice to the rights and contentions of the parties, it would be appropriate to permit the parties to file affidavit.

Let affidavit-in-opposition be filed within two weeks from date, reply if any, be filed two weeks thereafter.

List the application four weeks hence.