{"id":62544,"date":"2009-08-12T00:00:00","date_gmt":"2009-08-11T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/icici-securities-ltd-vs-o-p-roongta-on-12-august-2009"},"modified":"2015-09-02T02:43:30","modified_gmt":"2015-09-01T21:13:30","slug":"icici-securities-ltd-vs-o-p-roongta-on-12-august-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/icici-securities-ltd-vs-o-p-roongta-on-12-august-2009","title":{"rendered":"Icici Securities Ltd vs O. P. Roongta on 12 August, 2009"},"content":{"rendered":"<div class=\"docsource_main\">Bombay High Court<\/div>\n<div class=\"doc_title\">Icici Securities Ltd vs O. P. Roongta on 12 August, 2009<\/div>\n<div class=\"doc_bench\">Bench: Anoop V.Mohta<\/div>\n<pre>                                             1\n\n\n\n                   IN THE  HIGH COURT OF JUDICATURE AT BOMBAY\n\n\n\n\n                                                                                  \n                        ORDINARY ORIGINAL CIVIL JURISDICTION\n\n\n\n\n                                                          \n                         ARBITRATION PETITION NO.421 OF 2009\n\n\n\n    ICICI Securities Ltd.                                 ....   Petitioners\n\n\n\n\n                                                         \n           vs\n    O. P. Roongta                                         ....    Respondents\n\n\n\n\n                                             \n    Mr.P.C. Mody with Mr. Kunal Cheema i\/b. M.K. Ambalal &amp; Co. for the petitioners.\n\n    Mr.K.K. Singhavi, Sr.Counsel with Mr.Firoz Palkhiwala with Mr.Sachin Joshi i\/b. \n                               \n    Mr.M.G.Mimani  for the respondents. \n                              \n                                             CORAM: ANOOP V. MOHTA, J.\n<\/pre>\n<p>                                               DATE  :  12th August,  2009<\/p>\n<p>    ORAL JUDGMENT:\n<\/p>\n<p>    1      The petitioners have invoked Section 9 of the Arbitration &amp; Conciliation <\/p>\n<p>    Act, 1996 (for short, the Act).\n<\/p>\n<p>    2      Admittedly, against the Award, this Court has admitted the petition  under <\/p>\n<p>    Section 34 of the Act.  The same is pending.\n<\/p>\n<p>    3      The point in the present case, as averred is that whether   the petitioner&#8217;s <\/p>\n<p>    apprehension, as denied by the respondents, is  sufficient to reject the prayers of <\/p>\n<p>    interim protection\/reliefs.\n<\/p>\n<p>    4      The Apex Court in  Raman Tech. &amp; Process Engg. Co. &amp; anr. vs. Solanki <\/p>\n<p><span class=\"hidden_text\">                                                          ::: Downloaded on &#8211; 09\/06\/2013 14:53:02 :::<\/span><br \/>\n<span class=\"hidden_text\">                                                         2<\/span><\/p>\n<p>    Traders, (2008) 2 SCC 302., has laid down in para 6 as under:\n<\/p>\n<blockquote><p>                   &#8220;6.    A   defendant   is   not   debarred   from   dealing   with   his <\/p>\n<p>            property merely because a suit is filed or about to be filed against<br \/>\n            him.  Shifting of business from one premises to another premises or<br \/>\n            removal of machinery to another premises by itself is not a ground <\/p>\n<p>            for granting attachment before4 judgment.  A plaintiff should show,<br \/>\n            prima facie, that his claim is bonafide and valid and also satisfy the<br \/>\n            court that the defendant is about to remove or dispose of the whole<br \/>\n            or part of his property, with the intention of obstructing or delaying<br \/>\n            the exe3cution of any decree that may be passed against him, before <\/p>\n<p>            power is exercised under Order 38 Rule 5 CPC.   Courts should  also<br \/>\n            keep in view  the  principles relating to grant of attachment before<br \/>\n            judgment.  (See Premraj Mundra v. Md.Manesh Gazi (AIR 1951) Cal.\n<\/p><\/blockquote>\n<blockquote><p>            156) for a clear summary of the principles.&#8221;\n<\/p><\/blockquote>\n<p>    5       In   the   present   case,   admittedly,   during   the   pendency   of   the   arbitration <\/p>\n<p>    proceeding, no such application on similar apprehension  was moved.                            Even   in <\/p>\n<p>    the present petition, except the averments, there are no material for the above <\/p>\n<p>    elements to justify the same are placed on the record.   As those elements are <\/p>\n<p>    missing, I see there is no reason to pass and grant the protection of security as <\/p>\n<p>    prayed.\n<\/p>\n<p>    6       Even otherwise, on merits and in view of the statement and the following <\/p>\n<p>    averments so made in the affidavit in reply that they are not willing to transfer <\/p>\n<p>    any   property,           are   sufficient   at   this   stage   to   protect   the   interest   and   the <\/p>\n<p>    apprehension of the petitioner.\n<\/p>\n<p>           &#8220;31  &#8230;..   I categorically deny that I have tried or am trying to dispose of<br \/>\n    or alienate or transfer any of my assets or encumber the same with or without any<br \/>\n    intention as alleged or otherwise at all.  It is more than a year and half since the<br \/>\n    disputes arose and I had enough time to dispose off my assets if I had wanted to<br \/>\n    do so and the petitioner should have enough evidence of the same if that were so,<br \/>\n    but the petitioner has no evidence at all and has resorted to bare and baseless<br \/>\n    allegations.&#8221;\n<\/p>\n<p>    7       In view of above, the Court need to consider various facets while passing <\/p>\n<p><span class=\"hidden_text\">                                                                        ::: Downloaded on &#8211; 09\/06\/2013 14:53:02 :::<\/span><br \/>\n<span class=\"hidden_text\">                                                       3<\/span><\/p>\n<p>    Order  under Section 9 read with Order 38, Rule 5 and Order 39, Rules 1 and 2 <\/p>\n<p>    and on facts and circumstances of this case also.\n<\/p>\n<p>    8      In   view   of   this,   as   this   suffices   the   purpose,   therefore,   the   petition   is <\/p>\n<p>    dismissed.  However, liberty is granted to the petitioner to take out such petition <\/p>\n<p>    on change   of  circumstances.    The  interim  order  as passed  on 26.06.2009  also <\/p>\n<p>    stands vacated.  No costs.\n<\/p>\n<p>                                                      (ANOOP V. MOHTA, J.)<\/p>\n<p><span class=\"hidden_text\">                                                                      ::: Downloaded on &#8211; 09\/06\/2013 14:53:02 :::<\/span>\n <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bombay High Court Icici Securities Ltd vs O. P. Roongta on 12 August, 2009 Bench: Anoop V.Mohta 1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.421 OF 2009 ICICI Securities Ltd. &#8230;. Petitioners vs O. P. Roongta &#8230;. Respondents Mr.P.C. Mody with Mr. Kunal Cheema i\/b. M.K. Ambalal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11,8],"tags":[],"class_list":["post-62544","post","type-post","status-publish","format-standard","hentry","category-bombay-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Icici Securities Ltd vs O. P. 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