- 1 - IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ARBITRATION ARBITRATION ARBITRATION PETITION NO.397 OF 2008 PETITION NO.397 OF 2008 PETITION NO.397 OF 2008 Citicorp. Finance (India) Ltd. ...Petitioners vs. Sujitkumar S/O Ramjagbhai Tiwari and another ...Respondents Ms Shakuntala Joshi i/b S.I.Joshi & Company for the Petitioners None for the Respondents CORAM CORAM CORAM: A.S.OKA,J. A.S.OKA,J. A.S.OKA,J. DATE DATE DATE : DECEMBER 4,2008 : DECEMBER 4,2008 : DECEMBER 4,2008 P.C.: P.C.: P.C.: 1. The report of the Registry shows that the notice has been duly served to the 1st and 2nd respondents. None appears for the said respondents. 2. The learned counsel for the petitioners has invited my attention to the various documents on record including the loan agreement. The contention of the petitioner is that the arbitration clause in the agreement has been invoked. she submitted that the 1st respondent who is the borrower has committed a gross default in making payment of instalments. Reliance has been placed on notice dated 22nd May 2008 issued by the petitioner to the respondents. The amount outstanding as on that date was Rs.5,60,937.33. It is stated that the respondents have not deposited any further amount towards dues of the petitioner. - 2 - 3. There is a clear arbitration clause in the agreement which is already invoked by the petitioners. Considering the conduct of the respondents, this is a fit case for granting relief in terms prayer clause (a) with a modification that the petitioner is directed to sell the vehicle by holding public auction. The Court Receiver will act upon an authenticated copy of this order. The petition is disposed of. JUDGE JUDGE JUDGE