Valmiki J. Mehta, J. - (1.) I.A. No.2674/2019 (exemption) Exemption allowed subject to just exceptions. I.A. stands disposed of. O.M.P.(I) (COMM) No.53/2019
(2.) This is a petition under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter "the Act"). The petition has been filed by the petitioner India Infoline Finance Limited. The petitioner is the creditor and the respondent is the debtor on account of the respondent availing a credit of Rs. 10,00,00,000 under the Master Credit Facility Agreement dated 15.09.2018. It was pleaded that that the market value of the shares pledged by the respondent in the company M/s Ashapura Intimates Fashion Limited have drastically fallen down and the respondent has been found to be absconding since 02.10.2018, therefore, the subject petition has been filed under Section 9 of the Act seeking various interim reliefs till the disposal of the arbitration proceedings which are proposed to be invoked by the petitioner.
(3.) The address of the petitioner as stated in the memo of parties is at Mumbai and the address of the respondent is also at Mumbai, and the memo of parties in the present petition reads as under:- "MEMO OF PARTIES INDIA INFOLINE FINANCE LIMITED, THROUGH ITS AUTHORISED REPRESENTATIVE 12A-10, 13TH FLOOR, PARINEE CRESCENZO, C-38 AND C-39, G BLOCK BEHIND MCA, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI-400 051 ...PETITIONER VERSUS HARSHAD HIRJI THAKKAR, A/2603-04, E-6, SARVODAYA HEIGHTS, JAIN MANDIR.ROAD, SARVODAYA NAGAR.MULUND WEST, MUMBAI-400 080 AS ALSO ASHAPURA INTIMATES FASHION LIMITED TH FLOOR, PACIFIC PLAZA PLOT NO.570, BHAVANI SHANKAR.ROAD, OFF MATKAR.MARG, DADAR.WEST, MUMBAI-400 028 ...RESPONDENT";