Ivycap Ventures Advisors Private Limited v. Purplefirst Technologies Private Limited

504.CARBP.600.2025.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.600 OF 2025 IvyCap Ventures Advisors Private Limited ....Petitioner

Versus

Purple First Technologies Private Limited & Ors. ....Respondents Mr. Lalan Gupta a/w. Aboli Mandlik & Eeshan Sonak i/b. Shardul Amarchand Mangaldas & Co., Advocate for Petitioner. Mr. Sanyam Aggarwal i/b. Aishwarya Pawar, Advocate for Respondents.

CORAM: SOMASEKHAR SUNDARESAN, J.

DATE : AUGUST 8, 2025 ORDER :

1.

Since filing of this Petition under Section 9 of the Arbitration and Conciliation Act, 1996 ("the Act"), an Arbitral Tribunal has already been constituted. Therefore, it would be appropriate for this Petition to be considered as an Application under Section 17 of the Act by the Arbitral Tribunal.

2.

The first procedural meeting has been scheduled by the Arbitral Tribunal for August 18, 2025. As regards the urgent interlocutory reliefs in respect of 391 of equity shares of R N Chidakashi Technologies Pvt. Ltd. is concerned, Learned Counsel for the AUGUST 8, 2025 Aarti Palkar

504.CARBP.600.2025.doc Respondent on instructions states that there is no intention or scope for transfer of these shares or creation of any third-party rights on these shares before August 18, 2025 when the Arbitral Tribunal would convene. Therefore, it is entirely in the domain of the Arbitral Tribunal to consider what appropriate interlocutory arrangements to make pending the conduct of the arbitration proceedings. 3.

With the aforesaid observations, this Petition is finally disposed of. Pleadings in the Petition may be continued before the Learned Arbitral Tribunal.

4.

All actions required to be taken pursuant to this order, shall be taken upon receipt of a downloaded copy as available on this Court's website.

[ SOMASEKHAR SUNDARESAN, J.] AUGUST 8, 2025 Aarti Palkar