Iifl Finance Limited v. Dlg Industries

Megha 53_arbp_526_2025

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.526 OF 2025 IIFL Finance Limited

...Petitioner

V/s.

1. DLG Industries and Ors.

...Respondents

________________ Ms. Pooja Singh for the Petitioner.

________________ CORAM: SANDEEP V. MARNE, J.

DATED: 9 MARCH 2026.

P.C.:

1) On 19 December 2025 this Court had issued notices to the Respondents. Office report indicates that notices have duly been served on the Respondents. However, none appears on behalf of the Respondents.

2) The disputes and differences between the parties have arisen out of a Loan Agreement. The Petition pleads that an amount of Rs.21,79,093.03 was due and pending from the Respondents. 3) The learned counsel appearing for the Petitioner expresses an apprehension that since the Respondents are served with court notices, they are likely to siphon off all amounts lying in the bank Page No.

1 of 9 March 2026

Megha 53_arbp_526_2025 accounts. In that view of the matter till the next date of hearing, there shall be ad-interim relief 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.21,79,093.03/- (Rupees Twenty One Lakh(s) Seventy Nine Thousand Ninety Three And Paise Three Only) and restrain the respondents from withdrawing and/or transferring the funds from the following below-mentioned bank accounts: BANK ACCOUNT HOLDER BANK ACCOUNT NO.

BANK NAME BRANCH ADDRESS DLG INDUSTRIES 366305000014 ICICI BANK LTD PLOT NO.6, NEAR GREAT WAY EVELINE, DHANDARI KALAN, LUDHIANA, PUNJAB-141014, IFSC CODE :ICIC0003663 4) The Petitioner to file Application under Section 11 of the Arbitration and Conciliation Act, 1996 and to circulate the same for analogous hearing with the present Petition.

5) List both the proceedings for further consideration on 21 April 2026.

[SANDEEP V. MARNE, J.] Signed by: Megha S. Parab Designation: PA To Honourable Judge Date: 10/03/2026 11:33:00 Page No.

2 of 9 March 2026