Bombay High Court Allows Section 9 Petition for Appointment of Receiver and Injunction in Loan Default Case — Lender Entitled to Interim Measures to Secure Repayment of Outstanding Amount. The court held that where a borrower defaults and the loan agreement provides for repossession, the lender is entitled to interim relief under Section 9 of the Arbitration and Conciliation Act, 1996, including appointment of receiver and injunction to prevent alienation of assets....
The petitioner, L & T Finance Limited, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim measures against the respondents, Mr. Damodar Bandekar (borrower)...
