1 arbp161-11 vai IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.161 OF 2011 Mahindra & Mahindra Financial Services Ltd. ....Petitioner V/s. Ramdeo Singh & Ors. ....Respondents Mr.Chinmay Gupte /b Priya Crasto for the Petitioner. None for the Respondents. CORAM : S.J. VAZIFDAR, J. DATE : 11TH JULY, 2011. P.C. :- 1. This is a petition under section 9 of the Arbitration and Conciliation Act, 1996. 2. An amount of over Rs.5.00 lacs is due and payable by the respondents in respect of a loan cum hypothecation agreement. The vehicle which was hypothecated, has been reported by the respondents as having been stolen. The insurance company i.e. respondent No.3 rejected the claim but has been directed by the Consumer Court to pay an amount of Rs.3,63,385/-. 3. There is no affidavit in reply. Prima-facie, the amounts payable by respondent No.3 towards the insurance belongs to the petitioner. 4. In the circumstances, respondent No.3 is ordered and directed to deposit the amount in this Court. In the event of the amount already having been recovered by respondent Nos.1 and 2 from respondent No.3, 2 arbp161-11 they shall deposit the same in this court within two weeks of the receipt of a copy of this order. Upon the amount being deposited in this Court, liberty to the petitioner to apply including for withdrawal of the said amount 4. The arbitration petition is accordingly disposed of. No order as to costs.