SPLENDOR BUILDWELL PVT LTD Vs. RAJESH KUMAR PASRICHA

JUDGEMENT

(1.) The Appellant [being the Counter-Claimant in arbitration], is aggrieved with the Order dtd. 8/11/2021 [hereinafter, 'Impugned Order'] passed by the Sole Arbitrator, deciding the Respondent's [Claimant in arbitration] application under Sec. 17 of the Arbitration and Conciliation Act, 1996 [hereinafter, 'the Act'], whereby, inter alia, directions have been passed to secure an amount of Rs.1,42,35,279.50 by way of fixed deposit receipts [hereinafter, 'FDR'] or an irrevocable bank guarantee.

(2.) Briefly stated, the facts giving rise to the instant appeal are as follows:

(3.) Mr. Sudhir Nandrajog, Senior Counsel for the Appellant, impugns the order on the following grounds: