Altamas Kabir, J. - (1.) 22nd June, 2001, the appellant company filed an application under Section 9 of the Arbitration and Conciliation Act, 1996, being A.P. No. 150 of 2001, for the following orders : a) "Leave be given under Clause 12 of the Letters Patent to file this petition; b) Receiver be appointed over and in respect of Flat No. 1002, Himadri Apartment, 22, Ballygunge Park Road, Calcutta, share scripts of the respondent No. 1 and the respondent No. 7 lying with Mr. P.L. Agarwal, Advocate, having his office at No. 9, Old Post Office Street, Calcutta, and over the balance sale proceeds of tea of the respondent No. 1 lying in the hand of J. Thamas & Co. Pvt. Ltd; c) Receiver to be appointed herein be directed to sell:- (i) The shares of the respondent No. 1 at the highest possible price. ii) Apartment No. 1002, Himadri Apartment, 22, Ballygung Park Road, Calcutta. d) Injunction do issue restraining the respondent and/or their servants and/or agents from selling or collecting or otherwise dealing with the following assets : (i) Flat No. 1002, Himadri Apartment, 22 Ballygunge Park Road, Calcutta; (ii) Share scripts of the respondents No. 1 and 7 lying with Mr. P.L. Agarwal, Advocate, 9 Old Post Office Street, Calcutta; (iii) Sale proceeds of tea of the respondent No. 1 lying with J. Thomas & Co. Pvt. Ltd.; e) Receiver be appointed over and in respect of machinery and equipment lying at Tonganagoian Tea Estate; f) Injunction do issue restraining the respondent No. 1 and/or their servants and/or agents from dealing with and disposing of any of plant and machinery lying at Tonganagoan Tea Estate at P&TO, Doom Dooma, dated Tinsukia. Assam. g) Leave be given to serve this application upon J. Thomas & Co. Pvt. Ltd. h) J. Thomas & Co. (P) Ltd. be directed to submit true and faithful accounts of the dealings in tea of the respondent No. 1 and be restrained from apportioning the sale proceeds of tea of the respondent No. 1 until disposal of the arbitration proceedings; i) Ad interim orders in terms of prayers above; j) Such further or other order or orders be made and/or direction or directions be given as to this Hon'ble Court may deem fit and proper."
(2.) On 28th June, 2001, the learned Single Judge before whom the application was moved granted leave under Clause 12 of the Letters. Patent and issued interim orders in terms of prayers (d) and (f) set out hereinabove. Leave was also granted to serve a copy of the petition on J. Thomas & Co. Pvt. Ltd. Mr. K.S. Garg, learned advocate, was appointed Receiver to make inventory in respect of Flat No. 1002, 'Himadri Apartment', 22, Ballygunge Park Road, Calcutta. Liberty was given to the respondents to apply for variation and/or vacation of the interim order upon notice to the petitioner.
(3.) While the aforesaid proceeding was pending, the appellant company came to learn from an advertisement in the newspapers that a petition for winding up the respondent No. 1 company had been admitted by this Court. The appellant company also came to learn that the respondent No. 2 is the owner of a plot of land situated at 12/6, Ballygunge Park Road, Calcutta, and that the title deeds in respect of the said property had been deposited with the United Bank of India, Old Court House Street, Kolkata. The appellant company also came to learn that the said bank had agreed to release the charge in respect of the said property upon payment by the respondent No. 2 of a sum of Rs. 1.75 crores in part liquidation of the dues of the Bank. It also came to the appellant's knowledge that the respondent No. 2 is also the owner of premises No. 6, Dover Park, Kolkata.;