https://www.taxtmi.com/caselaws?id=458865 Calcutta HC granted injunction under Section 9 of Arbitration and Conciliation Act, 1996, restraining respondent from dealing with or creating interests over 13 flats, associated parking spaces, and additional 66 parking spaces. Court found petitioner's security interest at risk due to respondent's indebtedness to multiple creditors and existing restraining orders by other authorities. HC clarified petitioner was not seeking mortgage enforcement but protection of collateral security. Court relied on Bombay HC precedent allowing interim measures even when property isn't subject matter of arbitration dispute. Application allowed based on substantial debt under loan agreement with arbitration clause and documented charge/hypothecation over assets. en-us Fri, 01 Sep 2023 00:00:00 +0530 Tue, 19 Nov 2024 18:59:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458865 Calcutta HC granted injunction under Section 9 of Arbitration and Conciliation Act, 1996, restraining respondent from dealing with or creating interests over 13 flats, associated parking spaces, and additional 66 parking spaces. Court found petitioner's security interest at risk due to respondent's indebtedness to multiple creditors and existing restraining orders by other authorities. HC clarified petitioner was not seeking mortgage enforcement but protection of collateral security. Court relied on Bombay HC precedent allowing interim measures even when property isn't subject matter of arbitration dispute. Application allowed based on substantial debt under loan agreement with arbitration clause and documented charge/hypothecation over assets. Case-Laws IBC Fri, 01 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458865