skt/- 1 98.arbp.21.09.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 21 OF 2009 ALONGWITH COURT RECEIVER'S REPORT NO. 25 OF 2009 Mahindra & Mahindra Financial Services Ltd. ... Petitioner Vs. Sanjay D. Zurale & Anr. ... Respondents ...... Mr.Sameer Suryavanshi i/by Priya Castro for the petitioner. Mr.Rahul R.Singh i/by Mr.S.D.Dharmadhikari for respondent no.1. ...... CORAM : ANOOP V. MOHTA, J. DATE : 9th DECEMBER, 2009. P.C. 1. The petitioner has invoked petition u/s.9 of the Arbitration and Conciliation Act, 1996, (for short, 'the Arbitration Act') as the respondents committed defaults in payments of regular installments of the loan. By order dated 1st October 2008, this Court has appointed Receiver and also permitted to take possession of the vehicle. The vehicle, as observed in oder dated 10th February 2009 is in physical possession of respondent no.2. But the registration book of the vehicle shows the name of respondent no.1. In view of this, the skt/- 2 98.arbp.21.09.sxw respondent no.1 has made statement that they have never signed the basic agreement between the parties and therefore, by order dated 10th February 2009, the Court has directed the Receiver to appoint an Hand Writing Expert and submit report. Admittedly, the report is in favour of respondent no.1 and admittedly, the vehicle is in possession of respondent no.2. Admittedly, the arbitration proceeding is pending. 2. In view of this, it is desirable that the Arbitrator to decide the whole issue finally by giving full opportunity to both the parties. I am not deciding the merit of the matter including the respective contentions/submissions, so raised, by the parties in its petition u/s. 9 of the Arbitration Act. However, considering the above facts and circumstances, pending the arbitration proceedings, the amount so deposited by respondent no.1 with the Court Receiver, it is already invested by be remained as it is till the Arbitrator take final decision in the matter. 3. Respondent no.2, though served, none appearing in this matter. The statement is also made, that respondent 2 has skt/- 3 98.arbp.21.09.sxw using the vehicle without making any due payments and he still in possession of the same. In view of above, I am inclined to maintain prayer clause (c) against respondent no.2 as already granted and granting prayer clause (b), pending the final decision against both the respondent nos.1 & 2. Considering the facts and circumstances, the Arbitrator to decide the arbitration proceedings as early as possible i.e. within four months from today by giving full opportunity to both the parties. 4. The petition is accordingly allowed in terms of prayer clauses (b) & (c). No order as to costs. 5. The original documents, which are lying with the Court Receiver be handed over to the petitioner, which are necessary for appropriate final adjudication before the Tribunal. In case, the Arbitration award goes, liberty is granted to the parties to apply for appropriate order and/or directions. All points are kept open. [ ANOOP V. MOHTA, J ]