ORDER : Ashis Kumar Chakraborty, J. 1. The Court: This is an application under Section 9 of the Arbitration and Conciliation Act, 1996 as amended by Act 3 of 2015 (in short, "the Act of 1996"). 2. From the affidavit of service filed by the petitioner it appears that the petitioner forwarded copies of the application to the respondent and the respondent received the same. However, the respondent remains unrepresented. Accordingly, this application is taken up for hearing in the absence of the respondent. 3. It is the case of the petitioner that in terms of an agreement dated November 25, 2016 (hereinafter referred to as "the said agreement") the respondent obtained a loan for acquiring the asset, described in paragraph 4 of the application, which remains hypothecated in favour of the petitioner. According to the petitioner, the respondent failed to pay the monthly instalments in terms of the said agreement and as on the date of filing of application, Rs. 13,52,002/- remains outstanding from the respondent to the petitioner. Accordingly, the petitioner terminated the said agreement and filed this application to take possession of the hypothecated asset through Receiver. 4. Considering the materials on record, I find that the petitioner has made out a prima facie case for obtaining interim protection in respect of the hypothecated asset, described in Paragraph 4 of the application, presently lying at Aurangabad in the State of Maharashtra. 5. Accordingly, Mr. Manish Roy, Advocate of Bar Library Club (First Floor) is appointed the Receiver to take actual physical possession of the hypothecated asset, described in Paragraph 4 of the application from the respondent. It is made clear that the Receiver shall proceed to take possession of the hypothecated asset only after being informed by the petitioner of the present location of the said asset. After taking possession of the hypothecated asset, the Receiver shall keep the same, in his custody, at a safe place to be provided by the petitioner. 6. The Receiver shall be paid an initial remuneration of 3000 GMs by the petitioner. The petitioner shall also bear the travelling expenses including the airfare of the Receiver and shall provide him a befitting accommodation at the relevant place in the State of Maharashtra. Needless to mention that a competent officer of the petitioner shall all along accompany the Receiver in the State of Maharashtra. 7. The petitioner shall also bear the travelling expenses including the airfare of the Receiver and shall provide him a befitting accommodation at the relevant place in the State of Maharashtra. Needless to mention that a competent officer of the petitioner shall all along accompany the Receiver in the State of Maharashtra. 7. If necessary, the Receiver shall approach the concerned Superintendent of Police for obtaining police assistance to implement this order. If the petitioner deposits the requisite fees with the concerned authorities, the Superintendent of Police of the concerned District shall render necessary police assistance to the Receiver to take actual physical possession of the hypothecated asset from the respondent. 8. The application is made returnable on March 16, 2020. The Receiver shall file his report on the next date of hearing. 9. All parties, including the Receiver and the concerned police authorities shall act on the copy of the certified website copy of this order.