1. By these petitions filed under Section 9 of the Arbitration & Conciliation Act, 1996 (hereinafter referred as “the Act” for short), petitioner seeks appointment of Court Receiver in respect of various properties described in the petition, for injunction and for an order and direction against the respondents to secure, in favour of the petitioner, its claim with interest. As the respondents have raised various issues on maintainability of both these petitions, which are common in both the petitions, same were heard together and are being disposed of by a common order. Some of the facts emerge from the pleadings filed in ARBP No.1321/12 are as under.

2. By orders dated 24th February 2012 and 12th March 2012, this Court accorded sanction to the scheme of arrangement filed by Tata Capital Limited (TCL) and Tata Capital Financial Services Limited (TCFSL) by virtue of which, the securities and/or benefits, rights and obligations under any security arrangements, collaterals, agreements, instruments of whatsoever nature in connection with or pertaining to or relatable to the transferred financial services activity of TCL stood transferred to TCFSL.

3. On 13th April 2011, the pet