skt/- arbp.859.09.sxw ..1.. IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 859 OF 2009 Indusind Bank Ltd. ...Petitioner. Vs. Srfaraz Khan /so Srdar Khan & Anr. ...Respondents. ..... Mr.Amol B. Desai for the petitioner. None for the respondents. ..... CORAM :- ANOOP V. MOHTA, J. DATED :- 8th JANUARY, 2010. P.C.- 1. The affidavit of service is filed. None appeared for the respondents. Respondent No.1 is the co-borrower, who has failed to make timely payment but still enjoying the possession of the vehicle in question. 2. Considering the averments made, on 13th November 2009, regarding clear default, this Court has granted ad-interim relief in terms of prayer clause (c). Liberty is granted to the respondents to settle the matter and/or to apply for modification of the order. The respondents willfully not responded to the same also. The averments made in the petition is, therefore, remained uncontraverted. skt/- arbp.859.09.sxw ..2.. 3. In view of this, as all elements are available to appoint the Receiver and to continue with the order of injunction, I am allowing this petition in terms of prayer clause (a), except the bracketed portion. The prayer clause (c), already granted, is confirmed. However, liberty is granted to the respondents to apply for modification and/or for settlement. The same liberty is also granted to the petitioner. All points are kept open. Both the parties parties are at liberty to raise/agitate the issues before the Arbitral Tribunal. 4. The petition is allowed in terms of prayer clauses (a) & (c), accordingly. No costs. (ANOOP V. MOHTA, J.)