1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS NO. 979 OF 2009 IN ARBITRATION PETITION NO. 83 OF 2009 L & T Finance Limited .....Petitioner Versus Mr. Eknath Karbhari Bhambare & Ors. .....Org.Respondents and The Court Receiver, High Court, Bombay .....Respondent Ms. Shakuntala Joshi, Advocate for the Petitioner. Mr. K. L. Vyas, Court Receiver, High Court, Bombay. CORAM : R. V. MORE, J. DATE : 11TH NOVEMBER, 2009. P.C. : Heard learned Counsel for the Petitioner and Respondent-Court Receiver. None appears for the contesting Respondents, though served. 2. The Chamber Summons is filed for the following reliefs: (a) the Court Receiver, High Court, Bombay be discharged without passing of accounts on payment of costs, charges and expenses by the Respondents; 2 (b) that the Petitioner be allowed to dispose of the suit vehicles which are presently in possession of the Petitioner; (c) for ad-interim reliefs in terms of prayer clause (a) and (b) hereinabove; (d) Costs of this Chamber Summons; (e) Such other and futher reliefs may be granted as this Hon’ble Court deem fit. 3. The Petitioner filed the above said Arbitration Petition under section 9 of the Arbitration and Conciliation Act, 1996 for interim reliefs. By the Order dated 16th January, 2009, this Court passed the following order : “i) Pending the hearing and final disposal of the arbitration proceedings, the Court Receiver is appointed as Receiver in respect of the vehicle, more particularly described in Exh.G to the petition. ii) The Court Receiver as well as the Advocate for the petitioner shall communicate a copy of this order to the respondents forthwith. 3 iii) Within a period of four weeks from the date of the communication of the order, the respondents shall be at liberty to inform the Receiver that they are desirous of acting as agents of the Receiver. The respondents shall then be appointed by the Court Receiver as agents subject to security and royalty. The Receiver shall determine the quantum of security and royalty having regard to the terms and conditions contained in the loan cum hypothecation Agreement (Exh.A to the petition); iv) In the event that the respondents do not communicate their willingness to the Receiver to act as agents within the period stipulated, it would be open to the Receiver to take forcible possession of the hypothecated Tractor, more particularly described in Exh.E with police assistance of concerned police station and without any prior notice to the respondents. The petitioner may in such an event apply thereupon to the Court for further orders including for sale of the Tractor by private treaty. 4 v) Until the Receiver takes possession, there shall be an interim injunction restraining the respondents from alienating, parting with possession or encumbering or creating any third party rights in respect of the Tractor in Exhibit G. ” 4. The Court Receiver in pursuant of the above order, took possession of the suit vehicle on 16th April, 2009. Inspite of communication of the Order dated 16th January, 2009, the contesting Respondents have not shown their willingness to act as Agent of the Court Receiver in respect of the suit vehicle. The Court Receiver with consent of the contesting Respondents handed over the possession of the said vehicle to the Petitioner on 16th April, 2009. The said vehicle as on today is lying at J.K.Engineering , M.I.D.C., Ahmedabad. It is the case of the Petitioner that if the vehicle remains idle for a longer time, its price will be reduced due to deterioration in its condition and they will not be able to fetch good price. In that case, the award passed by the Arbitrator will become paper decree. In the circumstances, the present Chamber Summons is filed for the reliefs stated herein above. 5. The learned Counsel for the Petitioner has tendered Valuation Report of the said vehicle. The same is taken on record and marked as Exhibit “X” for identification. 5 6. The contesting Respondents have not filed their appearance or any reply to the above Chamber Summons, inspite of service of Chamber Summons upon them. In these facts, I am constrained to raise inference that the contesting Respondents have no objection, if the said vehicle is sold by private treaty after giving public notice. The Respondent-Court Receiver also has no objection for grant of Chamber Summons provided provisions of Rule 591 of the Original Side Rules are complied with. 7. In the above facts, I dispose of the Chamber Summons by passing the following order : i) The Chamber Summons is made absolute in terms of prayer clause (a) and (b). ii) The Court Receiver is discharged in respect of the said vehicle subject to payment of costs, charges and expenses without passing accounts. iii) It is further directed that the Petitioner shall sell the said vehicle by private treaty after giving public notice and subject to compliance of the provisions of Rule 591 of the Original Side Rules. Thus, the Chamber Summons is disposed of in view of the above terms. Sd/- (R. V. MORE, J.)