1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION (LODGING) NO. 1418 OF 2009 Kotak Mahindra Prime Limited ...Petitioner. Vs. Dinesh Laxmichand Jain ...Respondent. Mr. Santosh Pawar i/by M/s. Goenka Law Associates for the Petitioner. None for the Respondent. CORAM :- Anoop V. Mohta. DATED :- 11th December, 2009. P.C.:- 1 The matter is on the final hearing board. 2 The Petitioner has invoked Section 9 of the Arbitration and Conciliation Act, 1996 (for short, the Act), as the Respondent committed defaults in due payment towards the loan agreement. Though served, none appeared for the Respondent. Affidavit of service is on record. 3 Considering the averments made and as there is no denial to the same and as the relevant ingredients are available to grant the relief, I am inclined to consider the case of the Petitioner. This Court, on 16th October, 2009, has already granted an ad-interim relief in terms of prayer clause (d) 2 in respect of item No.1 only, thereby restrained the Respondent to create third party rights, title or interest in the property. In view of this, I am inclined to confirm this order as prayed. 4 The liberty is already granted to the Respondent to settle the matter and/or furnish the appropriate security to the satisfaction of the Petitioner and to raise plea or defence before the Arbitral Tribunal, if any. 5 The Petition is accordingly allowed in terms of prayer clause (d) to the above extent only, with liberty to the Respondent to apply for modification of this order. No costs. (ANOOP V. MOHTA, J.)