Indiabulls Housing Finance Limited vs Sara Estates Private Limited & Anr.

ik-144397836 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 Housing Finance Limited vs Sara Estates Private Limited & Anr. is a Delhi High Court decision dated December 23, 2024 (citation: ik-144397836). Indiabulls entities filed multiple connected Section 9 petitions under the Arbitration Act seeking interim measures against Ambience group entities and their promoters, alleging siphoning off of loan proceeds and default on substantial credit facilities. The Court examined whether the balance of convenience and the potential for irreparable loss warranted interim protection under Section 9 pending institution of arbitral proceedings. The observations were confined to the Section 9 interim rel The case was heard by Justice C. Hari Shankar.

Summary

Indiabulls entities filed multiple connected Section 9 petitions under the Arbitration Act seeking interim measures against Ambience group entities and their promoters, alleging siphoning off of loan proceeds and default on substantial credit facilities. The Court examined whether the balance of convenience and the potential for irreparable loss warranted interim protection under Section 9 pending institution of arbitral proceedings. The observations were confined to the Section 9 interim relief and would not influence any future arbitral proceedings.

What was the outcome of Indiabulls Housing Finance Limited vs Sara Estates Private Limited & Anr.?

Indiabulls entities filed multiple connected Section 9 petitions under the Arbitration Act seeking interim measures against Ambience group entities and their promoters, alleging siphoning off of loan ...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-144397836)