Indiabulls Housing Finance Limited vs Surabhi Gehlot

ik-59892057 Delhi High Court 23 December 2024 • 74 min read

Judges (1)

C. Hari Shankar Delivered

Counsel (10)

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 Naman Gowda 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 Surabhi Gehlot is a Delhi High Court decision dated December 23, 2024 (citation: ik-59892057). Indiabulls Commercial Credit and Indiabulls Housing Finance filed connected Section 9 Arbitration Act petitions seeking interim measures including Mareva-type injunctions against Ambience Private Ltd. and its promoter Surabhi Gehlot in connection with loan facilities. The court examined the prima facie case, balance of convenience, and likelihood of dissipation of assets in determining whether to grant interim protection pending arbitration. The observations were clarified as being for the li The case was heard by Justice C. Hari Shankar.

Summary

Indiabulls Commercial Credit and Indiabulls Housing Finance filed connected Section 9 Arbitration Act petitions seeking interim measures including Mareva-type injunctions against Ambience Private Ltd. and its promoter Surabhi Gehlot in connection with loan facilities. The court examined the prima facie case, balance of convenience, and likelihood of dissipation of assets in determining whether to grant interim protection pending arbitration. The observations were clarified as being for the limited purpose of Section 9 proceedings and not constituting a substantive opinion on the merits of the dispute.

What was the outcome of Indiabulls Housing Finance Limited vs Surabhi Gehlot?

Indiabulls Commercial Credit and Indiabulls Housing Finance filed connected Section 9 Arbitration Act petitions seeking interim measures including Mareva-type injunctions against Ambience Private Ltd....

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-59892057)