Vls Finance Limited v. Svp Industries Limited

$~23 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 157/2025 & I.A. 11273/2025 VLS FINANCE LIMITED .....Petitioner Through:

Ms. Maneesha Dhir, Ms. Varsha Banerjee, Mr. Kanishk Khetan and Ms. Vidhi Kapoor, Advocates.

versus SVP INDUSTRIES LIMITED .....Respondent Through:

Mr. Vaibhav Dang, Ms. Sakshi Arora, Mr. Akash Awana and Ms. Varsha Choudhary, Advocates with Mr. Har Sharan Gupta, AR.

CORAM:

HON'BLE MS. JUSTICE JYOTI SINGH

O R D E R

% 25.08.2025 1.

This petition is filed on behalf of the Petitioner under Section 9 of the Arbitration and Conciliation Act, 1996 ('1996 Act') seeking the following reliefs:- "a. Pass an Order under Section 9(1)(ii)(b) of the Arbitration and Conciliation Act, 1996 securing the amount of Rs. 20,00,00,000/- along with interest amounting to Rs. 1.68 crore (approx..) as on 31.03.2025 (plus future interest) in favour of the Petitioner; b. Pass an order directing creation of security interest of the Petitioner on the bank accounts and other assets of the Respondent to the extent of the amount in dispute;

c. Pass an order prohibiting/restraining the Respondent from creating any further third party(ies) rights directly or indirectly over any of the assets of the Respondent including but not limited to encumbering, alienating, transferring etc., in favour of any third party(ies) directly or indirectly, any of the assets of the Respondent;"

O.M.P.(I) (COMM.) 157/2025 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 27/08/2025 at 12:57:11

2.

Learned counsel appearing on behalf of the Respondent, on instructions from Mr. Har Sharan Gupta, who has joined Court proceedings virtually, submits that Respondent shall not alienate assets worth Rs.21.68 crores until further orders in this regard by the Arbitral Tribunal, once the same is constituted. The assurance is taken on record. 3.

Petition is disposed of along with pending application, leaving it open to the parties to take recourse to appropriate steps towards invocation of arbitration.

JYOTI SINGH, J AUGUST 25, 2025/YA/Shivam O.M.P.(I) (COMM.) 157/2025 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 27/08/2025 at 12:57:11