SK FINANCE LIMITED vs UP MONEY LIMITED

Judgment text excerpt

$~44 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision : 24.03.2026 + O.M.P.(I) (COMM.) 494/2025 SK FINANCE LIMITED .....Petitioner Through: Mr. J. Sai Deepak, Senior Advocate with Mr. Susshil Daga, Mr. R. Abhishek, Mr. Utkarsh Misra, Mr. Ashish Sharma and Ms. Parul Singhal, Advocates versus UP MONEY LIMITED .....Respondent Through: Mr. Kunal Tandon, Senior Advocate with Mr. Abhinav Agnihotri, Mr. Gitesh Chopra, Mr. Siddharth Singh, Ms. Natasha and Ms. Shreni Taran, Advocates CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGEMENT (ORAL) HARISH VAIDYANATHAN SHANKAR, J. 1. The present Petition, under Section 9 of the Arbitration and Conciliation Act, 1996 [“Act”], seeks the following reliefs: “a. Direct the Respondent to fully cooperate with the Petitioner in contacting the obligors/borrowers and to forthwith facilitate and enable the collection of the Assigned Receivables in accordance with the terms of the Servicing Agreement; or alternatively; Direct the Respondent to forthwith deposit all receivables, collections, recoveries, and/or payments received or realized from the borrowers/obligors in respect of the Assigned Assets into a Signature Not Verified Digitally Signed O.M.P. (COMM) 494/2025 Page 1 of 5 By:HARVINDER KAUR BHATIA Signing Date:25.03.2026 19:10:45 Court monitored Escrow Account to prevent any further diversion; b. Direct the Respondent to furnish security, by way of deposit with the Registrar General or in the form of bank guarantee, for the defaulted amount (including interest) of Rs. 3,09,99,172/- c. Direct the Respondent to file a detailed affidavit before this Hon‟ble Court disclosing, in detail, a) all receivables/ collection / recoveries received from the borrowers / obligors from 01.08.2025 till date; b) dates, amounts, modes o