- 1 - 12.arbp.786.11 skt IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.786 OF 2011 L & T Finance Limited ..Petitioner -Versus- Daljeet Singh B Kakan & Anr. ..Respondents AND ARBITRATION PETITION NO. 787 OF 2011 L & T Finance Limited ..Petitioner -Versus- Ajay Ramjee Singh & Anr. ..Respondents .......... Ms.Disha Karambar for the Petitioner. None for the Respondents. .......... CORAM : S.J. VAZIFDAR, J. DATE : 26TH SEPTEMBER 2011. P.C. 1 These are petitions under section 9 of the Arbitration & Conciliation Act, 1996. 2 Prima facie, amounts are due and payable under the loan-cum- hypothecation agreements entered into between the plaintiffs and respondent No.1. The dues are secured by the hypothecation of the - 2 - 12.arbp.786.11 vehicles in each case. The repayment is also guaranteed by respondent No.2 in each case. 3 The respondents are absent, though served. They were absent when the ad-interim orders were passed on 30th August 2011. There is no affidavit in reply. 4 In the circumstances, it is necessary to safeguard the petitioners’ claim. The above petitions are, therefore, made absolute in terms of prayer (a), except the words bracketed in red. The Court Receiver shall, however, appoint the respondents as his agents on the usual terms and conditions, including as to security and royalty. In the event of the respondents failing to accept the agency, the Court Receiver shall appoint any third party as the agent on the same terms and conditions without further order. Till the Receiver takes possession, order in term of prayer (d). The undertaking to file affidavit of service, if not already filed, is accepted. The petitions are, accordingly, disposed of. All parties, including the Court Receiver, are directed to act on an ordinary copy of this order, duly authenticated by the Associate of this Court. - 3 - 12.arbp.786.11 -