- (1.) In this application the petitioner prays for leave to serve a copy of this application on the two debtors of the respondent no.1 company, namely, ISC Project Limited and NTPC Railway Projects, Gaddarwara, Madhya Pradesh. The address of the said two debtors of the respondent no.1 company has been mentioned in the supplementary affidavit filed by the petitioner, a copy whereof was also served upon the respondent no.1.
(2.) The petitioner filed an application, AP No.312 of 2018 under Section 9 of the Arbitration and Conciliation Act, 1996 (in short, "the Act of 1996") against the respondents praying for, inter alia, various reliefs including an order for appointment of Receiver to take possession of the 31 assets which remained hypothecated by the respondent no.1 in favour of the petitioner.
(3.) It is the case of the petitioner in the said application, AP No.312 of 2018 is that in terms of an agreement dated April 1, 2016 between the parties, the respondent no.1 obtained financial assistance of Rs.9,74,000/- from the petitioner for acquiring the said 31 assets which remained hypothecated in favour of the petitioner. The respondent no.1, however, committed default in making payment of its dues to the petitioner under the said agreement dated April 1, 2016. Thus, the petitioner has terminated the said agreement and prayed for appointment of Receiver to take possession of the said assets of the petitioner. The said application was moved upon notice to the respondents.;