https://www.taxtmi.com/caselaws?id=272433 Delhi HC considered whether interim protection under Section 9 of the Arbitration and Conciliation Act was needed to secure claimed dues and preserve assets pending arbitration. Taking account of the respondent's financial condition, the petitioner's substantial claims, and competing security interests asserted by the bankers, the Court treated preservation of the subject matter as necessary to prevent dissipation of assets. Interim relief was granted by restraining further disposal of assets and creation of third-party interests, while requiring disclosure of assets. The Court also allowed the respondent to seek modification if asset sales became necessary for restructuring, and preserved the bankers' right to enforce their lawful claims. en-us Mon, 29 Jan 2018 00:00:00 +0530 Wed, 02 May 2018 21:06:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272433 Delhi HC considered whether interim protection under Section 9 of the Arbitration and Conciliation Act was needed to secure claimed dues and preserve assets pending arbitration. Taking account of the respondent's financial condition, the petitioner's substantial claims, and competing security interests asserted by the bankers, the Court treated preservation of the subject matter as necessary to prevent dissipation of assets. Interim relief was granted by restraining further disposal of assets and creation of third-party interests, while requiring disclosure of assets. The Court also allowed the respondent to seek modification if asset sales became necessary for restructuring, and preserved the bankers' right to enforce their lawful claims. Case-Laws Indian Laws Mon, 29 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272433