India, April 25 -- The Delhi High Court has reportedly restrained BluSmart and Gensol Engineering from alienating or creating third-party rights on 175+ EVs leased to them by Japanese financial services company Orix's India arm.

As per a report by Bar and Bench, the HC was hearing a petition filed by Orix under Section 9 of the Arbitration and Conciliation Act, 1996.

"Having heard the learned counsel for the petitioner, respondents are restrained from creating third-party rights with respect to 175 vehicles," the report quoted Justice Jyoti Singh as saying.

The Japanese company's India arm provides flexible financing solutions to corporates for leasing cars. While much isn't known about the transaction with BluSmart, Orix had entered i...