Emergency Arbitrator stays invocation of two Corporate Guarantees in subsidiary's arbitration
GHV Infra FZ-LLC, a wholly owned subsidiary, has initiated emergency arbitration against Rana Exim FZ-LLC at the Dubai International Arbitration Centre (DIAC).
By ScoutQuest · · 2 min read
- EMD refund claimed
- AED 11,242,746
- Emergency Order date
- November 03, 2026
- EPC Agreement date
- October 6, 2025
What the company informed the exchange
- GHV Infra FZ-LLC, a wholly owned subsidiary of the company, has initiated arbitration proceedings, including an application for emergency interim relief, against Rana Exim FZ-LLC.
- The forum is the Dubai International Arbitration Centre (DIAC), Dubai, UAE, under the DIAC Arbitration Rules, 2022.
- The proceedings arise out of disputes relating to the EPC Agreement dated October 6, 2025 for the development of the Erisha Smart Manufacturing Hub at RAKEZ, Ras Al Khaimah, UAE.
- The request for emergency arbitration was shared on October 19, 2026, and the arbitration application for regular proceedings was also shared on October 19, 2026.
What the Emergency Order says
The Emergency Arbitrator, vide Emergency Order dated November 03, 2026, granted interim relief in favour of GHV Infra FZ-LLC by staying the invocation of the Corporate Guarantees issued under the EPC Contract. Rana Exim FZ-LLC has been restrained, pending determination of the arbitration or further order of the Emergency Arbitrator or the arbitral tribunal, from:
- making, renewing or repeating any demand under the two Corporate Guarantees;
- taking any steps to collect, enforce or realise payment under either Corporate Guarantee;
- receiving or retaining any payment under either Corporate Guarantee.
The amounts involved
- The refund of Earnest Money Deposit (EMD) claimed is AED 11,242,746, along with other claims and reliefs made by GHV Infra FZ-LLC before the Arbitral Tribunal.
- These substantive contractual claims remain open for adjudication in the regular arbitration proceedings; the Emergency Order is interim in nature and does not finally determine the contractual rights and obligations of the parties.
Financial impact as stated by the company
- The financial implications, if any, arising from the arbitration proceedings cannot be conclusively assessed at this stage.
- They shall depend upon the final outcome of the arbitration proceedings.
What this means in simple terms
- An emergency arbitration is a fast-track route to seek urgent protection before the main arbitration gets going.
- Here, the protection granted is interim: the other party is stopped, for now, from acting on the two Corporate Guarantees.
- The larger question of who owes what, including the EMD refund of AED 11,242,746, is still to be decided by the Arbitral Tribunal.
- The company has said the final financial effect will be known only when the arbitration concludes.
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More numbers
- EMD refund claimed by GHV Infra FZ-LLCAED 11,242,746
- Number of Corporate Guarantees covered by the Emergency Ordertwo
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