- 1 - 902.arbp.627.11 skt IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.627 OF 2011 M/s.Tata Capital Ltd. ..Petitioner -Versus- M/s.Dhruvanam Automobiles Pvt. Ltd. & Ors. ..Respondents .......... Mr.Chetan Kapadia a/w. Mr.Durgesh Singh, Mr.Rahul Gade i/b India Law for the Petitioner. None for the Respondents. .......... CORAM : S.J. VAZIFDAR, J. DATE : 17TH AUGUST 2011. P.C. 1 This is a petition under section 9 of the Arbitration and Conciliation Act, 1996. 2 The respondents are absent despite being served. They were absent when the ad-interim order dated 28th July 2011 was passed. Prima- facie an amount over Rs.40 lacs is due and payable under the agreement dated 12th September 2007 entered into between the parties titled as a channel finance agreement. The repayment of the amount is secured by an equitable mortgage in respect of the properties described in Exhibits ‘G-1’ and ‘G-2’. The mortgage is evidenced by a memorandum of deposits of title deeds dated 29th July 2008. - 2 - 902.arbp.627.11 3 In the circumstances, the petition is made absolute in terms of prayer (a) except the words bracketed in red. The Court Receiver shall appoint the respondents as his agent without security but subject to payment of royalty. Till the Court Receiver takes possession, order in terms of prayer (b). 4 The undertaking to file affidavit of services, if not already filed, within two weeks from today is accepted. The petition is accordingly disposed of. -