1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 468 OF 2009 L & T Finance Limited, a Company incorporated under the provisions of The Companies Act, 1956, having its Registered Office at L & T House, Ballard Estate, Mumbai 400 001 and Corporate Office at 3B, Laxmi Towers, C-25, ‘G’ Block, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051. ...Petitioner. Vs. 1 M/s. Aakansha Trading Co. (Borrower) A Proprietary concern, having its address at Ward No.21, Camp – 1, Shanti Para, Bhilai Chattisgarh. 2 Mr. J.J. Rao, A Proprietor of Respondent No.1 Aakansha Trading Co., having office address at Ward No.21, Camp – 1, Shanti Para, Bhilai, Chattisgarh ...Respondents. 2 Ms. Shakuntala Joshi with Mr. Sanjay Anubhavane i/by M/s. S.I. Joshi & Co. for the Petitioner. None for the Respondents. CORAM :- ANOOP V. MOHTA, J. DATED :-11th SEPTEMBER, 2009. ORAL JUDGMENT:- 1 The Petitioner has invoked Section 9 of the Arbitration and Conciliation Act, 1996 (for short, the Act), as the Respondents committed consistent default in making due installments. Though served private, as well as, Court notice, none appeared for the Respondents. An affidavit of service is on record. 2 Considering the averments made and as the same remained uncontroverted and as the case is made out by the Petitioner and as all elements contemplated under Order 40 of the Code of Civil Procedure (CPC) are available, I am inclined to grant prayer clause (a-i) except the bracketed portion. Ad-interim in terms of prayer clause (d) as already granted is confirmed. 3 However, the liberty is granted to the Respondents to settle the 3 matter and or furnish the solvent security to the satisfaction of the Petitioner to the extent of the amount involved. I do not deny the right of the Respondents to contest and or appropriate pleas before the Arbitral Tribunal, if so constituted. The liberty is also granted to the Petitioner to take police assistance if necessary. 4 The Petition is, accordingly, allowed in terms of prayer clauses (a-i) and (d). No order as to costs. (ANOOP V. MOHTA, J.)