( 1 ) 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 USJ ARBITRATION PETITION NO.129 OF 2009 ARBITRATION PETITION NO.129 OF 2009 ARBITRATION PETITION NO.129 OF 2009 Citicorp Finance (India) Ltd. ..Petitioner V/s. Vasant S/o Maruti Bhoir and Anr. ..Respondents ...... Ms. Shakuntala Joshi for the petitioner ...... CORAM : R.Y. GANOO, J. CORAM : R.Y. GANOO, J. CORAM : R.Y. GANOO, J. DATED : 1st April, 2009 DATED : 1st April, 2009 DATED : 1st April, 2009 P.C.: P.C.: P.C.: 1. Affidavit of service is filed. Heard learned advocate for the petitioner. She pressed for appointment of Receiver in terms of prayer clause (a). After having considered the nature of the dispute before the Court and the reliefs sought, I am inclined to grant Receiver and pass further order for disposal of the vehicle and other related orders. Hence the following order is passed so as to dispose of the petition. ( 2 ) ORDER ORDER ORDER . The Receiver, High Court, Bombay is appointed in respect of the suit excavator more particularly described in prayer clause (a). . Receiver to take possession of the suit vehicle and inform the petitioner accordingly. . After the vehicle is taken charge by the Receiver, the petitioner shall arrange to sale the suit vehicle by private treaty. The petitioner shall pay the Receiver’s charges and thereafter the Receiver shall allow the petitioner to complete the transaction of sale of the suit vehicle to the purchaser that is to say allow the petitioner to execute proper documents. Upon payment of the Receiver’s charges, the Receiver shall stands discharged. Petitioner shall appropriate the balance of the sale proceeds towards outstanding loan amount. The petitioner shall inform the ( 3 ) Receiver the said fact of appropriation of the balance of sale proceeds. Till such time, the Receiver takes possession of the suit vehicle and vehicle is sold. . There shall be an order of injunction in terms of prayer clause (c). . Arbitration petition stands disposed of in above terms with no order as to costs. (R.Y. GANOO, J.) (R.Y. GANOO, J.) (R.Y. GANOO, J.)