https://www.taxtmi.com/caselaws?id=428492 Section 9 interim relief under the Arbitration and Conciliation Act, 1996, cannot be used to compel deposit of amounts covered by already-invoked bank guarantees unless the safeguards of Order XXXVIII Rule 5 CPC are met. The note states that such security-style relief requires cogent prima facie material showing an intention to defeat the eventual award by disposing of property or otherwise. As the guarantees had already been invoked and payment had already been made, the prerequisites for pre-award attachment or deposit were not satisfied, and the commercial court's deposit direction was unsustainable. Relief was therefore granted against the security order, subject to an undertaking during the arbitral process. en-us Fri, 30 Sep 2022 00:00:00 +0530 Mon, 03 Oct 2022 08:55:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428492 Section 9 interim relief under the Arbitration and Conciliation Act, 1996, cannot be used to compel deposit of amounts covered by already-invoked bank guarantees unless the safeguards of Order XXXVIII Rule 5 CPC are met. The note states that such security-style relief requires cogent prima facie material showing an intention to defeat the eventual award by disposing of property or otherwise. As the guarantees had already been invoked and payment had already been made, the prerequisites for pre-award attachment or deposit were not satisfied, and the commercial court's deposit direction was unsustainable. Relief was therefore granted against the security order, subject to an undertaking during the arbitral process. Case-Laws Indian Laws Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428492