IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION USJ ARBITRATION PETITION NO.107 OF 2009 ARBITRATION PETITION NO.107 OF 2009 ARBITRATION PETITION NO.107 OF 2009 Kotak Mahindra Bank Ltd. ..Petitioners V/s. Omprakash Hariram Golani & Anr. ..Respondents ...... Mr. Rahul Mehta i/by Ms. Disha Karambar for the petitioners ...... CORAM : R.Y. GANOO, J. CORAM : R.Y. GANOO, J. CORAM : R.Y. GANOO, J. DATED : 17th March, 2009 DATED : 17th March, 2009 DATED : 17th March, 2009 P.C.: P.C.: P.C.: 1. Despite passing order in terms of prayer clause (b) on 17th February, 2009, there is no response from the respondents. 2. Counsel for the petitioners states that this is a fit case, where relief in terms of prayer clause (c) should be granted so that the petitioners can sell the suit Vehicles through the Receiver and realize the sale proceeds and appropriate them towards the outstanding loan amount. 3. Looking to the conduct of the respondents, in as much as they have not appeared before the Court, it is clear that they are not interested in contesting this petition. Even otherwise, the petitioners are entitled to sell the suit Vehicles on account of hypothecation agreement entered into between the petitioners and the respondents. Hence, the order. ( 2 ) ORDER ORDER ORDER . There shall be an order in terms of prayer clause (c) except the bracketed portion which is "In the alternative". . The petitioners will have to pay the costs of the Receiver and upon such payment of costs only the Receiver shall stands discharged. The petitioners shall file a statement of accounts as regards appropriation of the sale proceeds towards outstanding loan amount with the Receiver, High Court, Bombay. Till the suit Vehicles are disposed of, ad-interim order granted earlier in terms of prayer clause (b) shall continue to operate against the respondents. . Petition stands disposed of in the above terms with no order as to costs. (R.Y. GANOO, J.) (R.Y. GANOO, J.) (R.Y. GANOO, J.)