Profectus Capital Private Limited v. R K Fracture Hospital and Trauma Center and Ors.
Case brief
What is this about?
Section 9 Arbitration and Conciliation Act 1996 interim measures before commencement of arbitration; continuation of ad-interim restraint measures throughout pendency of arbitral proceedings till final award; Court Receiver discharge without passing of accounts subject to costs and charges; handing over of mortgaged movable properties and hypothecated machinery to mortgagee-petitioner; liberty to sell seized assets for recovery of outstanding amounts; 90-day window to commence arbitration; Section 21 notice invoking arbitration; Section 11(6) application for arbitrator appointment; status quo order by another Court on immovable properties; Profectus Capital Private Limited v. R.K. Fracture Hospital and Trauma Center; Bombay High Court; Commercial Arbitration Petition (L.) No. 29853 of 2025; Court Receiver's Report No. 562 of 2025.
What did the court decide?
Both the Arbitration Petition and the Court Receiver's Report disposed of: interim measures in terms of prayer clause (i) (restraint on sale, transfer, alienation, dealing, disposal or creation of third-party rights over the Mortgaged Property, Hypothecated Machinery and other assets) continued pending arbitral proceedings and till making of the final Award; movable properties seized by the Court Receiver per order dated 8 October 2025 given into the Petitioner's custody with liberty to cause sale for recovery of outstanding amounts, the Petitioner bearing shifting costs; Court Receiver discharged without passing of accounts, subject to payment of costs and charges; interim measures to operate for 90 days within which the Petitioner must take steps to commence arbitration.