OCD 5 ORDER SHEET AP-COM/869/2024 IN THE HIGH COURT AT CALCUTTA ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL DIVISION SREI EQUIPMENT FINANCE LIMITED VS PLACID MARKETING PRIVATE LIMITED AND ORS. BEFORE: The Hon'ble JUSTICE SHAMPA SARKAR Date: 29th April, 2025. Appearance: Mr. Rachit lakhmani, Adv. Mr. Aditya Kanodia, Adv. Mrs. Shreya Trivedi, Adv. …for the petitioner Mr. Anil Choudhury, Adv. Md. Shah Muhajuddin, Adv. …for the respondents The Court: The petitioner prays for extension of the interim order which was initially passed on November 11, 2024 and thereafter, extended with further reasons on November 19, 2024. It appears that arbitration has not yet been invoked. However, the supplementary affidavit indicates that as there was a talk of one time settlement and the respondent had by an email made an offer to the petitioner, arbitration had not been invoked. Ninety days had expired in the meantime. The one time settlement did not succeed. I do not find any reason not to extend the interim order and dispose of the application for injunction, leaving it open to the petitioner to pray for all further 2 reliefs and interim measures before the learned arbitrator. This order shall operate for two months and within such time, the petitioner shall take steps for appointment of an arbitrator. The respondent is restrained to the following effect:- The respondent is restrained from disposing of, alienating and/or encumbering or otherwise dealing in any way whatsoever with the secured property or any part thereof, being all that piece and parcel of the residential plot of land measuring 1140 sq. yards together with the G+3 Bungalow having built up area of 28000 sq. ft., situated in a residential colony, known as Greater Kailash Part – II, in the Revenue Estate of Village – Bahapur, within the limits of South Delhi Municipal Corporation, New Delhi – 110048. On expiry of the interim order as given aforesaid, the petitioner will be free to approach the learned arbitrator for further interim order and protection as may be available under the law. This order is being passed for the same reasons and grounds as had been recorded in the order dated November 19, 2024. The factum of non-payment of loan is not in dispute. The fact that OTS has failed is also not in dispute and the interim order has been continuing for a while, but the dispute has not been resolved. The application is, accordingly, disposed of. (SHAMPA SARKAR, J.) B.Pal