PROFECTUS CAPITAL PVT. LTD. Vs. COMPUAGE INFOCOM LTD.

JUDGEMENT

(1.) The petition filed under Sec. 9 of the Arbitration and Conciliation Act, 1996, by the petitioner seek certain interim measures pending hearing and disposal of the arbitration proceedings and making of the arbitral award and till its execution and this includes the deposit of an amount due to the petitioner with interest as payable under the Facility Agreement dtd. 20/08/2020 read with Deed of Guarantee as well as Deed of Hypothecation dtd. 20/08/2020.

(2.) Heard respective counsel for the petitioner and the respondents in support and in opposition of the reliefs in the petition along with the interim applications.

(3.) The respondent nos.1 to 3 herein jointly approached the petitioner and applied for a Purchase Invoice Discounting credit facility for a sum of Rs.5.00 Crores. On 13/08/2020, a sanction letter was issued by the petitioner in favour of the respondent nos.1 to 3.