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Judgment
The Court : At the instance of the petitioner, on February 2, 2018 this Court passed an order in this application under Section 9 of the Arbitration &
Conciliation Act, 1996, as amended by the amending Act 3 of 2016 (in short, ""the Act of 1996"") appointing a Receiver to take possession of the
hypothecated asset from the respondents.
From the report of the Receiver, it appears that since the asset could not be located, the Receiver has not been able to take possession of the same.
Let the report filed by the Receiver be kept on record. At this juncture, it is, however, submitted by Ms. Chakraborty, learned counsel appearing for
the petitioner, that, in the meantime, the disputes between the parties have already been referred to an arbitrator appointed, as per the arbitral
agreement.
In view of the facts stated above, I do not find any reason to keep this application pending before this Court. The Receiver appointed on February 2,
2018 stands discharged.
The petitioner may, however, approach the Arbitrator and seek appropriate relief, under Section 17 of the Act of 1996, against the respondents. With
the above directions, AP No.59 of 2018 stands disposed of. There shall, however, be no order as to costs.Â