1 arbp9-11g vai IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.9 OF 2011 L & T Finance Limited ....Petitioner V/s. Hajikha F. Khan & Anr. ....Respondents WITH ARBITRATION PETITION NO.11 OF 2011 L & T Finance Limited ....Petitioner V/s. Nabib A. Shaikh & Anr. ....Respondents WITH ARBITRATION PETITION NO.12 OF 2011 L & T Finance Limited ....Petitioner V/s. Vithal K. Dongre & Anr. ....Respondents WITH ARBITRATION PETITION NO.14 OF 2011 L & T Finance Limited ....Petitioner V/s. Subhash V. Ghavate & Anr. ....Respondents WITH ARBITRATION PETITION NO.15 OF 2011 L & T Finance Limited ....Petitioner V/s. Sandeep Wankhede & Ors. ....Respondents WITH ARBITRATION PETITION NO.16 OF 2011 L & T Finance Limited ....Petitioner 2 arbp9-11g V/s. Phoolsing Nama Rathod & Ors. ....Respondents WITH ARBITRATION PETITION NO.18 OF 2011 L & T Finance Limited ....Petitioner V/s. Pandit B. Gitte & Anr. ....Respondents WITH ARBITRATION PETITION NO.21 OF 2011 L & T Finance Limited ....Petitioner V/s. Uddhav L. Gule & Anr. ....Respondents WITH ARBITRATION PETITION NO.24 OF 2011 L & T Finance Limited ....Petitioner V/s. Baburao T. Walke & Anr. ....Respondents Mr.Durgesh Singh i/b Indian Law for the Petitioner. None for the Respondents. CORAM : S.J. VAZIFDAR, J. DATE : 18TH APRIL, 2011. P.C. :- 1. These are petitions under section 9 of the Arbitration and Conciliation Act, 1996. 2. The petitioner had entered into a loan cum hypothecation agreement with some of the respondents in each of the petitions. The other respondents are the guarantors. The loans are secured by hypothecation of the respective assets/equipment. The respondents have not filed any 3 arbp9-11g affidavit in reply. The respondents are absent, though served. 3. Prima-facie the amounts are due and payable by the respondents to the petitioner and repayment thereof is secured by hypothecation of the assets/equipment. 4. In the circumstances, the above petitions are disposed of by the following order :- i). The Court Receiver, High Court, Bombay is appointed as a Receiver of the assets/equipment referred to in each of the petitions. The Court Receiver shall appoint the respondents in each of the petitions as an agent on the usual terms and conditions including as to security and royalty. ii). In the event the respondents refusing the agency of the Court Receiver, liberty to the petitioner to make a fresh application for the appointment of a third party as an agent or for the sale of the equipment/assets. Such an application may also be made on a Court Receiver’s report. iii). Till the Court Receiver takes possession, the respondents are restrained from disposing of, alienating, encumbering, parting with possession of or creating any third party right, title and/or interest in respect of the assets/equipment in each of the petitions. The undertaking for filing the affidavit of service, if already not filed within two weeks from today, is accepted. The above petitions are accordingly disposed of.