arbp670-11 vai IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.670 OF 2011 Manoj Chandiramani & Anr. ....Petitioners V/s. Kotak Mahindra Prima ltd. & Anr. ...Respondents Mr.V.S. Kapse for the Petitioners. Mr.Ramakant Yadav for Respondent No.1. CORAM : S.J. VAZIFDAR, J. DATE : 30TH AUGUST, 2011. P.C. :- 1. The learned counsel appearing on behalf of the respondents agrees to have the hypothecated vehicle sold. It is agreed between the parties that the sale shall be by private treaty. Both the parties shall be entitled to obtain bids for the purchase of the vehicle within eight weeks from today. The respondents shall sell the vehicle to the highest bidder but only after the expiry of a period of eight weeks. 2. There is a dispute as to the manner in which the amounts are to be adjusted. The adjustment of the sale proceeds shall be decided in appropriate proceedings. The arbitration petition is accordingly disposed of.