*1* arbp.1153.09.sxw kps IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.1153 OF 2009 L & T Finance Ltd.. ..Petitioner -Versus- ACME Floors Tiles Mfg. Co. and another. ..Respondents .......... Mr.Pramod Bhosale i/b Disha Karambar, for the Petitioner. Mr.S.H.Bohra, for the Respondents. .......... CORAM : S.J. VAZIFDAR, J. DATE : 23rd August, 2010. P.C. 1 This is a petition under Section 9 of the Arbitration and Conciliation Act, 1996. 2 The petition is disposed of by the following order for which the parties have not insisted for recording the reasons. (i) The Respondent No.1 undertakes to deposit a sum of Rs.4 lacs in this Court on or before 15th October, 2010. The undertaking is accepted. (ii) The Court Receiver, High Court, Bombay is appointed as a Receiver in respect of the vehicle described in Exhibit-F to the petition with all powers under Order XL Rule 1 of the Code of Civil Procedure, 1908. (iii) Liberty to the Court Receiver to apply in the event of any difficulty in taking possession of the vehicle. (iv) Upon taking possession of the vehicle, the Court Receiver shall, in the first instance, appoint the Respondent as an Agent in respect *2* arbp.1153.09.sxw of the said vehicle on usual terms and conditions including as to security and royalty. (v) In the event of the Respondent refusing to accept agency of the Court Receiver, the Court Receiver shall appoint any third party as an Agent in respect of the said vehicle on the same terms and conditions. (vi) Liberty to apply for further reliefs including in respect of those reliefs which have not been granted by this Court, after the Court Receiver takes possession and in the event of the security being inadequate to meet the alleged claims of the Petitioner. All rights and contentions in that regard are kept open. (vii) Till the Court Receiver takes possession of the vehicle, there shall be an order in terms of prayer clause (c) except the words bracketed in red, which finally reads thus:- “(c) Pending the hearing and final disposal of the arbitration proceedings or at any time after the making of the Arbitral Award but before it is enforced in accordance with Section 36 of the Arbitration and Conciliation Act, 1996, the Respondent/s, their respective servant/s, agent/s, representative/s and/or any person or persons be restrained by an order and injunction of this Hon’ble Court in any manner disposing of and/or creating third party rights and/or alienating and/or encumbering and/or interfering with the possession of the Equipment described in Exhibit-F to the petition;” (viii) The costs of the petition shall be the costs in the arbitration proceedings. -