1 40.arbp.786.10group.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION skt ARBITRATION PETITION NO. 786 OF 2010 AND ARBITRATION PETITION NO. 900 OF 2010 AND ARBITRATION PETITION NO. 901 OF 2010 AND ARBITRATION PETITION NO. 1140 OF 2010 L & T Finance Ltd. ... Petitioner (in all matters) Vs. Mohd.Sharafat Hussain S/o. Sardar Hussain Khan & Anr. (786/10) Chatur Narayan Rajput S/o. Vijay Singh & Anr. (900/10) Khoote Enterprises & Anr. (901/10) Yeshwant A. Patil & Anr. (1140/10) ... Respondents (in respective matters) ...... Ms.Shakuntala Joshi i/by M/s.S.I.Joshi & Co. for the Petitioner in all matters. None for the Respondents in all the matters. ...... CORAM : S.J. VAZIFDAR, J. DATE : SEPTEMBER 28th , 2010. P.C. 1 These are the petitions under Section 9 of the Arbitration and Conciliation Act, 1996. 2 40.arbp.786.10group.sxw 2 The facts in the above matters are similar. According to the Petitioner, the Respondents are bound and liable to pay the various sums of money under the loan/hypothecation agreements entered into between the parties. Further according to the Petitioner, the amounts under the said agreements have not been paid. As a result thereof, the matters are to be decided in arbitration. Interim orders have been passed in most of these matters. 3 In the circumstances, the above petitions are disposed of by the following order :- (i) Pending the hearing and final disposal of the arbitration proceedings and where the Awards are passed in favour of the Petitioner, before the same are enforced; the Court Receiver, High Court, Bombay is appointed as a Receiver of the hypothecated equipments/vehicles/assets referred to in the respective agreements and prayer clause (a-i) of each of the petitions, with all powers under Order XL Rule 1 of the Code of Civil Procedure, 1908. ii) Liberty to the Court Receiver to apply in the event of any difficulty in taking possession of the said equipments/vehicles/ assets. 3 40.arbp.786.10group.sxw (iii) Upon taking possession of the said equipments/vehicles/ assets, the Court Receiver shall, in the first instance, appoint the respective Respondent as an Agent in respect of the said equipments/vehicles/ assets on usual terms and conditions including as to security and royalty. (iv) In the event of any Respondent refusing to accept agency of the Court Receiver, the Court Receiver shall appoint any third party as an Agent in respect thereof on the same terms and conditions. In that event, the Respondents shall be liable to pay for the Agency. (v) Liberty to apply for further reliefs including in respect of those reliefs which have not been granted by this Court, after the Court Receiver takes possession and in the event of the security being inadequate to meet the alleged claims of the Petitioner. All rights and contentions in that regard are kept open. (vi) Till the Court Receiver takes possession of the equipments/vehicles/assets, the Respondents either through themselves or through their servants or agents are restrained in any manner from transferring, disposing of, encumbering, creating third party rights, alienating the said equipments/vehicles/ assets. 4 40.arbp.786.10group.sxw (vii) Each of the Respondents is ordered and directed to disclose the location of the equipments/ vehicles/ assets within two weeks from the date of service of the copy of this order. (viii) The costs of the petitions shall be the costs in the arbitration proceedings. -