RESCOM MINERAL TRADING FZE vs RASHTRIYA ISPAT NIGAM LIMITED RINL AND ANR

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 28.05.2025 Judgment pronounced on: 28 .08.2025 + O.M.P. (I) (COMM.) 402/2024 & CCP(O) 5/2025, I.A. 582/2025, I.A. 4997/2025 RESCOM MINERAL TRADING FZE .....Petitioner Through: Mr. Anirudh Bhakru, Mr. Divyam Agarwal, Ms. Ananya Mago, Mr. Khitiz Jain, Mr. Rohan Chandra, Advs. versus RASHTRIYA ISPAT NIGAM LIMITED & ANR. ....Respondents Through: Mr. Rajshekhar Rao, Sr. Adv. with Mr. Shravan Yammanur, Mr. Mangesh Krishna, Ms. Prachi Kaushik, Ms. Aashna Chawla, Mr. Zahid Hashmi, Advs. CORAM: HON’BLE MR. JUSTICE JASMEET SINGH JUDGMENT 1. This is a petition filed under section 9 of the Arbitration and Conciliation Act, 1996 (“1996 Act”) seeking the following prayers:- “(i) Pass an order directing Respondent No. 1 to secure the Petitioner’s claim by furnishing security in the form of a 2. Subsequently, the petitioner filed an application being I.A. No.582/2025, wherein the petitioner sought that respondent No. 1 be restrained from selling, dealing with or alienating any of its moveable assets without furnishing security to the tune of Rs. 139 crores. FACTUAL BACKGROUND 3. The petitioner is a company, incorporated in the Uni