SRJ chs-1355-09-arbp-128-08.sxw 1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS NO.1355 OF 2009 IN ARBITRATION PETITION NO.128 OF 2008 L & T Finance Ltd., .. Petitioner V/s. M/s.Sai International .. Respondent. Ms. S.I.Joshi, for Petitioner. None for Respondent. Mr.S.N.Naik, Asst. Prothonotary (Adm.,)/Representative of Court Receiver present. CORAM : R.V.MORE,J. DATE : 18th FEBRUARY, 2010. P.C. : 1] Heard learned counsel Ms.S.I.Joshi, for the Petitioner and Mr.S.N.Naik, Asst.Prothonotary (Adm.,) and representative of Court Receiver. None appears for Respondent, in spite of due service. 2] This Chamber Summons is taken out for seeking discharge of the Court Receiver with liberty to the Petitioner to dispose off the suit machinery which is presently in their possession. 3] By an order dated 26th March, 2008, this Court appointed Court Receiver, High Court, Bombay as receiver of the suit machinery more particularly described in Ex. D to the Petition. The Respondent was given liberty SRJ chs-1355-09-arbp-128-08.sxw 2 to apply for appointing him as an agent of the Court Receiver, in respect of the suit machinery. The Respondent has so far not come forward. Since machinery is lying idle and the Petitioners are incurring unnecessary expenses towards maintenance and parking, the present Chamber Summons is taken out. 4] By an order dated 18th December, 2009, this Court directed Court Receiver to appoint valuer from his panel or otherwise to value the machinery which is lying at Raipur. In pursuance of this report, one Mr. P.S.Rao, panel valuer, High Court, Bombay, visited site at Raipur, Madhya Pradesh, where the suit machinery is parked and prepared valuation report. He has valued the suit property at Rs.7.06 lacs. 5] The representative of Court Receiver has no objection if the Petitioner is allowed to dispose off the suit machinery by private treaty at the price not less than the valuation arrived by the valuer. 6] In the absence of the contest, the Respondent deemed to have accepted the averments made in the Affidavit-in-Support of the Chamber Summons. Accordingly, the Chamber Summons is disposed of by passing following order:- (a) the Petitioner is allowed to disposed of the suit machinery by private treaty at the costs not less than arrived at by the valuer; SRJ chs-1355-09-arbp-128-08.sxw 3 (b) the Court Receiver, High Court, Bombay stands discharged without passing accounts, however, subject to payment of costs charges and expenses by the Petitioner; (c) liberty to the Petitioner to apply, in case, no customer come forward to purchase the suit machinery for the amount arrived at by the valuer. (R.V.MORE, J. ) SRJ chs-1355-09-arbp-128-08.sxw 4