1 arbpl82-11 vai IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION (LODGING) NO.82 OF 2011 L & T Finance Limited ....Petitioner V/s. Uddhav P. Padile & Ors. ....Respondents Ms.Shakuntala Joshi i/b M/s.S.I. Joshi & Co. for the Petitioner. Mr.P.R. Rathod for the Respondents. CORAM : S.J. VAZIFDAR, J. DATE : 3RD MAY, 2011. P.C. :- 1. This is a petition under section 9 of the Arbitration and Conciliation Act, 1996. 2. In this application, I do not intend considering the overdue charges claimed by the petitioner. Whether the petitioner is entitled to the same, shall be decided at the hearing of the petition. 3. That leaves consideration a sum of Rs.86,257/- towards the overdue loan installments as on 1.10.2010 and Rs.56,000/- towards the future loan installments. 4. The respondents have fairly and honestly stated that they are undergoing certain financial difficulties due to the monsoons. Despite the same, the respondents state that they will pay without prejudice to the rights and contentions a sum of Rs.56,000/- on or before 31.7.2011 and a further sum of Rs.56,000/- on or before 30.9.2011. 2 arbpl82-11 5. In the circumstances, the ends of justice would be met by the following order :- i). Pending the hearing and final disposal of the arbitration proceedings and for twelve weeks after the award is made, the respondents shall not dispose of, alienate, encumber, part with possession of or create any third party rights in respect of the vehicle described in prayer (a) of the petition. ii). The statement to make the above payments of Rs.56,000/- each on or before 31.7.2011 and 30.9.2011 are accepted. iii). In the event of the amount not being paid by the respondents, as aforesaid, liberty to the petitioner to apply by way of a fresh application. iv). The respondents shall permit the petitioner to take inspection of the vehicle. The petition is accordingly disposed of.