DALEX FINANCE & LEASING COMPANY (PLAINTIFF) vs. SANTA BARON VENTURES LIMITED & 3 ORS. (DEFENDANTS)

In this application the Plaintiff/Applicant prays this Court for an order of Interim Preservation/Injunction restraining 1st Defendant/Respondent from selling, mortgaging, pledging, and or dealing in away or whatsoever and or howsoever with its shares in Santa Power Limited; and restraining Santa Power Limited from selling, mortgaging, pledging, and or dealing in away or whatsoever and or howsoever with its shares in Power Distribution Limited. The said application has been brought under Order 25 rule 2 of the High Court (Civil Procedure) Rules, 2004 (C.I. 47). The core issue which I have been called upon to resolve in this matter is as to 1. Whether or not it is just and necessary for the preservation of the shares, the subject matter of this application. I have read the application and the respective affidavits filed by both parties. I have also read the written submissions filed by both Counsel for and against the grant of the instant application. I have further given considera...