1. By the above Arbitration Petition filed under Section 9 of the Arbitration and Conciliation Act, 1996 (‘the Act’), the Petitioner -- Larsen & Toubro Limited (‘L & T’) has sought reliefs against Respondent No.1 -- Shree Ahuja Properties and Realtors Pvt. Ltd. (‘Ahuja Properties’) and the Respondent No. 2 -- Punjab National Bank (‘PNB’) in terms of prayer clauses (a) to (d) of the Petition, interalia for Ahuja Properties to furnish security towards the claim of L &T, appointment of Court Receiver for the unoccupied flats in the Residential Project at Prabhadevi, an order of injunction against Ahuja Properties, its servants, agents and officers from in any manner dealing with and/or creating third party rights in respect of the unoccupied flats in the Project. L & T is also seeking urgent reliefs in the nature of a temporary order and injunction to restrain Ahuja Properties from in any manner invoking or making any demand on, or receiving, or recovering any amount from PNB, under a document titled "Performance Guarantee" bearing No.2175ILGO16614 dated 16th July, 2014 (‘PG’) extended from time to time, the last being upto 31st December, 2016, and against PNB from making pay