SUNDARAM FINANCE LIMITED Vs. NEPC INDIA LIMITED

JUDGEMENT

(1.) Leave granted.

(2.) An important question which arises for consideration in these cases is whether under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 1996 Act) the Court has jurisdiction to pass interim orders even before arbitral proceedings commence and before an arbitrator is appointed.

(3.) The relevant facts which are necessary for the consideration of the point in issue are that the respondent had entered into a hire-purchase agreement with the appellant herein in respect of supply of two wind turbine generators along with all accessories. The terms of the agreement contemplated payments being made in instalments by the respondent, the first instalment was payable on 29th September, 1995 and the last was due by 25th August, 1998. In all the payment was to be made by 36 instalments.