1 JPP IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 31 OF 2010 L & T Finance Limited. ... Petitioners. V/s. Mr. Manish Manimuthu Thevar & Anr. ... Respondents. Ms. Shakuntala Joshi i/b. S.I. Joshi & Co. for the Petitioners. None for the Respondents. CORAM : R.Y. GANOO, J. DATED : 20th APRIL 2010. P.C. :- Affidavit of service is filed. Respondents are served. 2. By order dated 16th December 2009, Receiver was appointed. The Respondent No.1 is the Borrower and Respondent No.2 is the Guarantor. The loan cum hypothecation agreement entered into between the Petitioners and Respondent No.1 permits the Petitioners to take possession of the vehicle which is the subject matter of 2 the loan agreement. In my view, in a situation like this it would be proper if an order is passed against Respondent as not to create third party rights or part with possession in regard to said vehicle. If the loan cum hypothecation agreement permits, the Petitioners to take possession or to deal with the said vehicle, such an order can be passed. The Petitioners can be permitted to do so. Hence, following order is passed to dispose of this Petition :- (i) Pending the hearing and final disposal of the Arbitration proceedings, Respondent No.1 is restrained from creating third party rights or part with possession in regard to vehicle in question. (ii) The Petitioners are permitted to take possession of the said bus under loan cum hypothecation agreement and to deal with the said vehicle in accordance with the said agreement. (iii) If the Petitioners require police help, they are free to approach the concerned police station and 3 upon payment of necessary government charges for police assistance, the concerned police officer will assist the Petitioners in taking charge of the said vehicle. (iv) The Petition stands disposed of in the above terms with no order as to costs. (R.Y. GANOO, J.)