1 nms454-10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.454 OF 2010 IN ARBITRATION PETITION NO.131 OF 2004 Durgashankar M. Trivedi & Ors. ....Petitioners V/s. Smt.Deviben B. Trivedi & Ors. ....Respondents Mr.Rakesh Dave i/b M/s.N.N. Vaishnawa & Co. for the Petitioners. Ms.Manorama Mohanty i/b S.K. Srivastav & Co. for Respondent No.2. CORAM : S.J. VAZIFDAR, J. DATE : 3RD SEPTEMBER, 2010. P.C. :- 1. This is the Respondents’ Notice of Motion for withdrawal of 50% of the royalty paid to the Court Receiver by them. The Respondents are the agents of the Court Receiver in respect of certain premises which belong to the partnership firm in which the Petitioners and the Respondents have an equal share. 2. Normally unless it is established that on taking accounts the assets of the partnership firm would be more than adequate to meet all the contingencies upon taking accounts, the partners ought not to be allowed to withdraw their share in respect of any particular part of the partnership assets. 3. However, by an order dated 14.3.2007, the then learned arbitrator permitted the Petitioners to withdraw 50% of the royalty. In the 2 nms454-10 circumstances, it is only equitable that the Respondents are also permitted to withdraw 50% of the royalty that may have been paid from time to time. This, they shall be entitled to do for the same period that the Petitioners have been withdrawing the amounts. The Court Receiver however, shall be at liberty to file a report calling upon the parties to deposit amounts towards the costs, charges and expenses of the Court Receiver. 4. The Notice of Motion is accordingly disposed of.