Iifl Finance Limited v. Tirupati Overseas
2026:BHC-OS:9108 Renuka 34-ARBP-469-2025
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 469 OF 2025 IIFL Finance Ltd.
...Petitioner
V/s.
Tirupati Overseas and Ors.
...Respondents
________________ Ms. Pooja Singh, for Petitioner.
________________ CORAM: SANDEEP V. MARNE, J.
DATED: 08 APRIL 2026.
P.C.:
1) This is a Petition filed under Section 9 of the Arbitration and Conciliation Act, 1996 (the Arbitration Act) for seeking interim measures before commencement of the arbitration proceedings. The disputes and differences have arisen out of Loan Agreement dated 21 August 2023. 2) It is the case of the Petitioner that the Respondents have failed to repay the loan.
3) This Court had issued notices to Respondents on 28 January 2026 and hamdast was granted. Affidavit of service indicates that Mr. Sunder Kumar Goel-Respondent No. 2 has received the notices on behalf of all the Respondents on 22 February 2026. However, none has appeared 1 of
Renuka 34-ARBP-469-2025 on behalf of the Respondents. Perusal of the Loan Agreement indicates presence of arbitration clause.
4) Ms. Singh, the learned counsel appearing for the Applicant expresses an apprehension that Respondents are likely to siphon off monies from their Bank accounts. He prays for interim measures in terms of prayer clause(a) of the Petition.
5) I accordingly proceed to pass following order:- (i) Pending Arbitration and till making of the final Award, there shall be interim measures in terms of prayer clause (a) which reads thus:- a.
Attach/Freeze the below-mentioned bank account/s and other bank accounts of the respondents, which are not brought to the knowledge of the petitioner company, to the extent of Rs. 2788035.021- (Rupees Twenty Seven Lakh(s) Eighty Eight Thousand Thirty Five And Paise Two Only) and restrain the respondents from withdrawing and/or transferring the funds from the following belowmentioned bank account/s: BANK ACCOUNT BANK ACCOUNT BANK NAME BRANCH ADDRESS HOLDER NO.
TIRUPATI OVERSEAS 82705001291 ICICI BANK LTD ICICI BANK LTD., D 1 6, NEAR PVR CINEMA, PRASHANT VIM, NEWDELHI.11008 IFSC Code:
ICIC0000827 2 of
Renuka 34-ARBP-469-2025 (ii) The above interim measures shall continue to operate for a period of 90 days, within which the Petitioner shall take steps for commencement of Arbitration.
5) With the above directions, the Arbitration Petition is disposed of. [SANDEEP V. MARNE, J.] Signed by: Megha S. Parab Designation: PA To Honourable Judge Date: 10/04/2026 15:56:13 3 of