Indiabulls Commercial Credit Ltd. vs Ambience Projects And Infrastructure ...

ik-123888792 Delhi High Court 23 December 2024 • 74 min read

Judges (1)

C. Hari Shankar Delivered

Counsel (12)

Adith Nair Counsel Petitioner Anirudh Bakhru Counsel Petitioner Ankit Banati Counsel Petitioner Anush Raajan Counsel Respondent G.S. Sachdeva Counsel Respondent Karan Bharihoke Counsel Petitioner Madhusudan Counsel Respondent Mallika Kamal Counsel Petitioner Naman Gowda Counsel Petitioner Nikhil Rathi Counsel Petitioner Pradyumn Yadav Counsel Respondent Rajeeve Mehra Counsel Respondent

Parties (4)

Ambience Private Ltd. Respondent Indiabulls Commercial Credit Ltd. Petitioner Indiabulls Housing Finance Limited Petitioner Surabhi Gehlot Respondent

Case Significance

Indiabulls Commercial Credit Ltd. vs Ambience Projects And Infrastructure ... is a Delhi High Court decision dated December 23, 2024 (citation: ik-123888792). Indiabulls entities filed petitions under Section 9 of the Arbitration Act seeking interim measures against Ambience group entities and their directors in connection with loan facility agreements, alleging siphoning of funds and default on repayment obligations. The court granted interim relief restraining the respondents from creating third-party rights in properties forming part of the security, and directed them to maintain status quo, while clarifying these were interim observations not a The case was heard by Justice C. Hari Shankar.

Summary

Indiabulls entities filed petitions under Section 9 of the Arbitration Act seeking interim measures against Ambience group entities and their directors in connection with loan facility agreements, alleging siphoning of funds and default on repayment obligations. The court granted interim relief restraining the respondents from creating third-party rights in properties forming part of the security, and directed them to maintain status quo, while clarifying these were interim observations not affecting the merits of the dispute to be determined in arbitration proceedings.

What was the outcome of Indiabulls Commercial Credit Ltd. vs Ambience Projects And Infrastructure ...?

Indiabulls entities filed petitions under Section 9 of the Arbitration Act seeking interim measures against Ambience group entities and their directors in connection with loan facility agreements, all...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-123888792)