Hero Fincorp Limited v. Prime Pressing Tools Priavte Limited & ORS.

$~75 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P. (I)(COMM) 120/2025 HERO FINCORP LIMITED ....Petitioner Through:

Mr. Rajat Katyal, Ms. Ruchik, Advs.

versus PRIME PRESSING TOOLS PRIAVTE LIMITED & ORS ......Respondents Through:

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 12.12.2025 1.

This is a petition filed under Section 9 of the Arbitration and Conciliation Act, 1996, amongst other reliefs, seeking attachment of the Bank Accounts of the respondent along with the credit balance. 2.

The briefs facts are that the petitioner is a Non Banking Finance Company in the business of providing finance and other services. Respondent No. 1 is the principal borrower and the respondent No. 2 to 5 are co-borrowers. The respondents approached the petitioner for a grant of a secured financial facility.

3.

The petitioner sanctioned a loan vide Sanction Letter dated 22.09.2023 for a sum of Rs. 6,86,80,000/- against property to be repaid within a period of 180 months along with a floating rate of interest of 14.75% per annum.

4.

Mr. Katyal, learned counsel for the petitioner, states that the loan is secured by equitable mortgage of property situated at Industrial Property Khata No-189, Gata No-1975m, situated at Village- Sikandarabad, Dehat The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 18/12/2025 at 12:32:09

Tehsil Sikandrabad, Distt- Bulandshahr, Sikandrabad, Uttar Pradesh 203205. The same is attached under UP Gangsters Act (Uttar Pradesh Gangsters and Anti-Social Activities (Prevention) Act, 1986 and is not available for Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest proceedings.

5.

This Court on 07.04.2025, while issuing notice as an interim measure was pleased to attach the bank accounts of the respondents. 6.

The respondents have been served on their emails as per the loan document.

7.

Despite service, there is nobody appearing on behalf of the respondents.

8.

I am satisfied that there exists a valid arbitration clause being Clause No. 20 and the petitioner has already filed a petition under Section 11 of the 1996 Act.

9.

Admittedly, the petitioner has advanced a loan which has not been repaid by the respodents. Under Section 9 of the 1996 Act, the Court has to preserve the subject matter of the arbitral dispute. 10.

For the said reasons, the bank accounts as attached vide order dated 07.04.2025 shall continue till varied/ modified/ set aside by the learned Arbitral Tribunal.

11.

A copy of the order be served to the concerned bank. 12.

The petition is disposed of in aforesaid terms. JASMEET SINGH, J DECEMBER 12, 2025/AS The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 18/12/2025 at 12:32:09