1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.2569 OF 2008 IN SUIT NO.3433 OF 2007 Housing Development Finance Corporation ....Plaintiff V/s. Pillai T. Neelkant & Ors. ....Defendants Mr.Vishal Lohire i/b M/s.Negandhi Shah & Himaytullah for the Plaintiff. Mr.Amol Joshi for Defendant No.3. CORAM : S.J. VAZIFDAR, J. DATE : 4TH DECEMBER, 2009. P.C. :- 1. The suit is filed to recover a housing loan granted by the Plaintiff to Defendant Nos.1 and 2. The loan was guaranteed by Defendant Nos.3 to 5. Defendant Nos.1 and 2 have remained absent throughout. There is no affidavit in reply. Today only Defendant No.3 is represented. 2. Prima-facie the fact that the loan was advanced is established. It is also established that the same has not been repaid. Further Defendant Nos.1 and 2 have created an equitable mortgage in respect of the two flats and a shop as security for repayment of the loan. 3. In the circumstances, the Notice of Motion is made absolute in terms of prayer (a) except the words bracketed in red. The Court Receiver shall at this stage not dispossess any party, found in possession but shall 2 appoint such party as his agent on the usual terms and conditions including as to security and royalty. In the event of such party refusing to accept being appointed as the agents of the Court Receiver, the Court Receiver shall appoint any third party as his agent/agents after inviting bids. The parties shall be entitled to bid for the agency of the Court Receiver. 4. The Notice of Motion is accordingly disposed of but without prejudice to the Court Receiver’s Report already filed in this Court.