SREI EQUIPMENT FINANCE LIMITED Vs. KARUR VYSYA BANK

JUDGEMENT

(1.) The petitioner has filed 4 applications under Sec. 9 of The Arbitration and Conciliation Act, 1996 for orders of injunction restraining the respondent from transferring or dealing with the amounts in the escrow accounts in the respondent Bank bearing the account number stated in the prayer b of each of the applications.

(2.) The 4 agreements entered into between the same parties in 2019 contain arbitration clauses. Since the issues involved in all the 4 applications are identical, the said applications are being disposed of by way of this judgment.

(3.) The petitioner seeks a restraint on the respondent Bank from dealing with the amounts in the Escrow accounts the particulars of which have been provided respectively in the 4 applications. The accounts are maintained in the respondent Bank. The petitioner also seeks appointment of a Receiver over the escrow account in the respondent Bank.