JUDGMENT :

1. The main question to be considered in this appeal is whether the order passed by the Commercial Court (Principal Sub Court) at Ernakulam on 22.12.2020 in CMA (Arb) No.766 of 2020, dismissing the application and declining the reliefs sought by the applicant under Section 9 of the Arbitration and Conciliation Act, 1996 is legal, proper and correct. The applicant had sought for the following reliefs in CMA (Arb) No.766 of 2020:

“I. To appoint a Receiver under Section 9(1) (II)(d) of the Arbitration and Conciliation Act, 1996 to take the possession and for the administration and management of the assets and the business of the 1st respondent firm, to realize the income from the business of the firm, to preserve the properties of the subject firm and also to maintain its accounts for the time being till the appointment of the Arbitrator.

II. To Freeze the relevant bank accounts of the subject firm maintained with the 4th respondent Bank of Edppally Branch as A/c No.919030046197357 of IFSC Code UTIB0003197, 5th respondent Bank of Ernakulam By-pass Branch as A/c No.16085500000065 of IFSC Code FDRL0001608 and the 6th respondent Bank as A/c No.37450200000025 of IFSC Code BARBO