Interim protection of mortgaged property granted where default and risk to security justified a Court Receiver and injunction.

Section 9 interim relief may be granted to preserve a mortgaged asset where the applicant shows a subsisting secured debt, repayment default despite reschedulement, non-response to demand notice, and a real risk that the security may be jeopardised. On those facts, the court found a prima facie case for protective measures and ordered ad-interim protection, including appointment of a Court Receiver with symbolic possession only and injunctive relief to safeguard the petitioner's mortgage interest pending final adjudication. The order was limited to preserving the subject property while leaving possession undisturbed except to the extent expressly directed.

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Issues: Whether the petitioner was entitled to ad-interim measures under Section 9, including appointment of a Court Receiver and an injunction to protect the mortgaged property pending further proceedings.

Analysis: The petition was founded on a subsisting debt secured by an equitable mortgage over immovable property. The record disclosed default in repayment despite reschedulement, non-response to the demand notice, and a credible apprehension that the security could be jeopardised if the underlying land was taken back by the original allotting authority. On these facts, a prima facie case was made out for protective interim relief to preserve the secured asset and safeguard the petitioner's claim pending final adjudication.

Conclusion: The petitioner was entitled to ad-interim protection. A Court Receiver was appointed for the mortgaged property with symbolic possession only, and interim injunctive relief was granted as stated in the order.

Final Conclusion: The order preserves the subject property and secures the petitioner's mortgage interest pending final hearing, while leaving possession undisturbed except to the limited extent directed.

Ratio Decidendi: Under Section 9 of the Arbitration and Conciliation Act, 1996, interim measures may be granted to preserve secured assets where the applicant shows default and a real risk of dissipation or impairment of the security.

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