1 55.arbp.1216.10,56.arbpl1023.10.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION skt ARBITRATION PETITION NO. 1216 OF 2010 WITH ARBITRATION PETITION (LODGING) NO.1023 OF 2010 Reliance Capital Ltd. ... Petitioner Vs. Kay Communication Pvt. Ltd. & Ors. ... Respondents ...... Mr.Rahul Mehta i/by KMC Legal Venture for the Petitioner. Mr.J.A.Udaipuri i/by M/s.Udaipuri & Co. for the Respondents. ...... CORAM : S.J. VAZIFDAR, J. DATE : SEPTEMBER 28th , 2010. P.C. 1 These are the petitions under Section 9 of the Arbitration and Conciliation Act, 1996. 2 According to the Petitioner the amounts are due and payable by the Respondents under financial transactions. The Petitioner’s dues are secured by mortgage of a flat in each of the matters. 3 The Petitioner invoked the arbitration agreements in both the matters. The learned counsel appearing on behalf of the Respondents states that the Awards may have already been passed and that the Respondents intend to challenge the same. 2 55.arbp.1216.10,56.arbpl1023.10.sxw 4 In the circumstances, the following order is passed with the consent of but without prejudice to the rights and contentions of all the parties : i) The Court Receiver, High Court, Bombay is appointed as a Receiver to take only formal possession of the mortgaged property described in Exhibit-D in both the petitions. ii) The Respondents shall be appointed as the agents of the Court Receiver but without security or royalty. iii)In the event of the Award being set aside for any reason, this order shall stand vacated and the Court Receiver shall be discharged forthwith thereupon without further orders, without passing accounts, but subject to payment of his cost, charges and expenses. No order as to costs. iv) Both the petitions stand disposed of. -