IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 253 OF 2008 ARBITRATION PETITION NO. 253 OF 2008 ARBITRATION PETITION NO. 253 OF 2008 WITH ARBITRATION PETITION NO. 250 OF 2008 ARBITRATION PETITION NO. 250 OF 2008 ARBITRATION PETITION NO. 250 OF 2008 Dwarkadas G. Panchmatia ...Petitioner V/s. Veekaylal Investment Company Private Limited ...Respondent Mr.S.U. Kamdar i/b. Mr.Bipin Joshi for the Petitioner. Mr.P.K. Samdhani with Ms.Priya Ranade i/b.M/s.Beri & Co. for the Respondent. CORAM : V.M. KANADE, J. CORAM : V.M. KANADE, J. CORAM : V.M. KANADE, J. DATED : JULY 8, 2008 DATED : JULY 8, 2008 DATED : JULY 8, 2008 P.C. :- P.C. :- P.C. :- 1. Heard Shri Kamdar, learned Counsel for the petitioner and Shri Samdani, learned Counsel for the respondent. 2. Learned Counsel for the respondent submits that he has no objection if an ad-interim relief is granted in terms of prayer clause (a)(1) subject to the petitioner bearing the costs of the Receiver. 3. In view of this statement, this petition can be disposed of finally. There shall be ad-interim order in - 2 - terms of prayer clause (a)(1). The petitioner shall, however, bear the costs of the Receiver. This arrangement shall continue till the final disposal of the arbitration between the parties. The Arbitration Petition is, accordingly, disposed of. 4. It is clarified that the costs of the Court Receiver shall be borne by the petitioner subject to the outcome of the arbitration. Both the parties agree that Shri B.N. Srikrishna be appointed as Sole Arbitrator. Accordingly, Shri B.N. Srikrishna, former Judge (Supreme Court of India) is appointed as Sole Arbitrator in the arbitration proceedings. (V.M. KANADE, J.) (V.M. KANADE, J.) (V.M. KANADE, J.)