ROADGODS AUTOGEAR PVT. LTD. Vs. GHVH PTE LTD

JUDGEMENT

(1.) Appellant impugns order dtd. 24/5/2022 whereby on an application filed under Sec. 9 of the Arbitration and Conciliation Act, as an interim measure, the appellant and respondents No.2 and 3 have been restrained from undertaking any acts or business in furtherance of the Business License Agreement dtd. 3/3/2022 or dealing in any manner with the assets and properties of the appellant till the next date of hearing.

(2.) Learned counsel for the appellant submits that because of the impugned order, the entire business and functioning of the appellant has come to a standstill.

(3.) Learned counsel appearing for respondent No.3 submits that similar effect has happened qua respondent No.3. Learned counsel submits that they have invested about Rs.3.8 crores in the appellant concern and because of the interim protection, they are being put to a great loss. Learned counsel for appellant and respondent No. 3 pray that some interim arrangement be made so that they can continue to operate their business.