1 7.arbp.1035.09.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION skt ARBITRATION PETITION NO. 1035 OF 2009 L & T Finance Ltd. ... Petitioner Vs. Ankush Sudam Bandal & Anr. ... Respondents ...... Ms.Shakuntala Joshi i/by S.I.Joshi & Co. for the Petitioner. None for the the Respondents. ...... CORAM : S.J. VAZIFDAR, J. DATE : SEPTEMBER 28th , 2010. P.C. 1 This is an application under Section 9 of the Arbitration and Conciliation Act, 1996. 2 According to the Petitioner, a sum of about Rs.1,60,000/- is due and payable by the Respondents in respect of a loan-cum-hypothecation agreement. The Respondent No.2 is the Guarantor. By an interim order dated 17th December 2009, a Court Receiver was appointed. Ms.Joshi, learned counsel appearing for the Petitioner states that the vehicle is in possession of the Court Receiver; that is not in a good condition and that the Respondents are not in a position to ply the same. 3 The Respondents are absent. There is no affidavit-in-reply. In these circumstances, it would be the interest, not merely of the Petitioner but 2 7.arbp.1035.09.sxw also the Respondents to have the vehicle sold or otherwise it will deteriorate further. In that event, the Respondents dues would also mount unnecessarily. 4 In these circumstances, a Court Receiver is appointed as a Receiver of the said vehicle with all powers under Order XL Rule 1 of the Code of Civil Procedure, 1908 including the power to sell the same. The sale shall take place only after notices to the Respondents. Considering that the claim is small, the sale shall be conducted on behalf of the Court Receiver, by the Petitioner, but after giving notices to the Respondents. The Respondents will be at liberty to procure bids for the sale and shall be also at liberty to bid themselves. The sale proceeds shall be deposited in this Court. The Petitioner is at liberty to apply for withdrawal of the same. Upon the sale, the Court Receiver shall stand discharged without passing accounts but subject to payment of his cost, charges and expenses. No order as to costs. 5 The petition is accordingly disposed of. -