VASUDEV GARG Vs. AXIS TRUSTEE SERVICES LIMITED

JUDGEMENT

(1.) The appellants have filed the present appeal under Sec. 37(1)(b) of the Arbitration and Conciliation Act, 1996 [A&C Act] impugning an order dtd. 10/6/2025 [impugned order] passed by the LXXXV Additional City Civil and Sessions Judge, Bengaluru [Commercial Court] in Com A.A No.61/2025.

(2.) The appellants had filed the aforesaid application under Sec. 9 of the A&C Act, inter alia, praying that the respondents be restrained from selling, transferring, disposing or in any manner encumbering or alienating 76 Acres of land, which form a part of the project named Embassy Tech Village [ETV Project]. The appellants also sought orders restraining the respondents from transferring or in any manner alienating the land measuring approximately 1 Acre and 9 Guntas located at Survey No.9/4 in at Devarabeesanahalli Village, Varthur Hobli, Bengaluru East Taluk [hereafter referred to as 'the 9/4 land']. Additionally, the appellants sought an order restraining the respondents from creating any rights in respect of equity shares of Vikas Telecom Private Limited [VTPL] or changing or altering the authorised or issued (paid-up) share capital of VTPL or creating any encumbrance on the said shareholding.

(3.) The learned commercial court had rejected the said application [Com A.A No.61/2025] in terms of the impugned order.