New Delhi, India : On 10 November 2025, the Hon’ble Telangana High Court has passed an interim order, restraining US based firms NuTek Food Science, LLC and Cain Food Industries Inc. from transferring and alienating their shareholding in Prathista Industries Limited in favour of any person or party pending disposal of the petition [Prathista Industries Limited v NuTek Food Science LLC & Anr, ICOMAOA No. 4 of 2025].

Prathista Industries Limited, a Hyderabad-based company specializing in manufacturing natural and non-GMO (genetically modified organisms) moved the application under Section 9 of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”) before the High Court seeking interim measures of protection for its outstanding dues against the US firms. According to Prathista’s plea, the company had entered into Product Supply Agreements with NuTek and Cain, pursuant to which goods were regularly supplied, but the US firms defaulted in their payment obligations and were now taking steps to alienate their shareholding and render an ultimate award passed in the arbitration, a paper decree.

The underlying arbitration in matter is on cross-roads of ICC (seated in the US) and SIAC (seated in Singapore). The 10 November order underscores the importance of measures available in Part I of the Arbitration Act and their applicability on Part II arbitrations, where the arbitration is seated outside India in view of the 2015 amendment to the Arbitration Act and importance of these measures as recognized by the Hon’ble Supreme Court in PASL Wind Solutions (P) Ltd. Vs. GE Power Conversion (India)(P) Ltd [2021 SCC Online SC 331].

Prathista Industries Limited (Petitioner) was represented Mr. Vikram Pooserla, Senior Advocate, briefed by the team of Saraf and Partners led by Mr. Gauhar Mirza (Partner), Ms. Altaf Fatima (Partner), K. Sai Krupakar (Associate Counsel) and Arnav Chopra (Associate)