1. This is an application for interim relief under section 9 of the
Arbitration and Conciliation Act, 1996, (hereinafter referred to as the
said Act). Mr. Swatarup Banerjee, learned advocate for the petitioner,
submitted that the petitioner had entered into a Rupee Term Loan
agreement dated April 2, 2019 with the respondent. The petitioner
financed a sum of Rs. 273.48 crores to the respondent. Thereafter,
various other agreements were also entered into between the parties,
namely the Amendatory and Supplementary rupee loan agreement
dated May 6, 2020, Arbitration Agreement dated April 2, 2019, Deed
of Hypothecation dated May 16, 2019, the Amended and Restated
Deed of Hypothecation dated May 6, 2020, and Declaration cum
Undertaking dated May 6, 2020. All these agreements were
interconnected and interlinked. Clause 2.1 of the Arbitration
Agreement dated April 2, 2019, specifically provided that any dispute,
difference or claim arising out of or in connection with the loan facility
or any financing documents including, but not limited to the
existence, validity, performance, interpretation, or termination or
breach of any financing document, would be referred to arbitration, by
the disputing parties in accordance with the terms of the financing
document.
