1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 251 OF 2009 Kotak Mahindra Bank Limited, a banking Company incorporated within the meaning of The Banking Regulation Act, 1949, having its Registered Office at 36-38A, Nariman Bhavan, 227 Nariman Point, Mumbai-400 021 and branch office at 2nd floor, Dani Corporate Park, 158, CST Road, Kalina, Santacruz- East, Mumbai 400 098 and Vinay Bhavya Comlex, 5th Floor, 159-A, C.S.T. Road, Kalina, santacruz (E), Mumbai. ...Petitioner. Vs. 1 Devidar Padmakari Talekar, At Post- Urali Kanchan Tal. Haveli, Dist. Pune-412 202. 2. Padmakar Gulab Talekar At Post- Urali Kanchan Tal. Haveli, Dist. Pune. ...Respondents. Mr. Nikhil Mehta with Mr. Rahul Mehta i/by Ms. Disha Karambar for the Petitioner. None for the Respondents. CORAM :- ANOOP V. MOHTA, J. DATED :- 6th NOVEMBER, 2009. 2 ORAL JUDGMENT:- 1 The Petitioner has taken out this Petition under Section 9 of the Arbitration and Conciliation Act, 1996 (for short, the Arbitration Act). None present for the Respondents, though served. Affidavit of service is part of the record. 2 Considering the fact that there is no denial to the averments so made covering the default as well as the apprehension made, this court on 21st April, 2009, granted ad-interim relief in terms of prayer clause (c). 3 It is clear that Respondents are using the said vehicle without making due payments. In view of this as all elements as contemplated under Order 40 Rule 1 of the Code of Civil Procedure (CPC), as made, I am inclined to grant prayer clauses (b) without interest, (c) and (e). 4 However, the liberty is granted to the Respondents to settle the matter and or furnish the security to the satisfaction of the Petitioner. 5 I do not deny the rights of the Respondents to raise appropriate pleas/defences before the Arbitral Tribunal, if so constituted. 6 Resultantly, the Petition is allowed in terms of prayer clauses (b) without interest, (c) and (e) with liberty. No order as to costs. (ANOOP V. MOHTA, J.)