1 arbp284-08g IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.284 OF 2008 L & T Finance Ltd. ....Petitioner V/s. Shantilal C. Parakh & Anr. ....Respondents WITH ARBITRATION PETITION NO.285 OF 2008 L & T Finance Ltd. ....Petitioner V/s. Surajbai S. Parakh & Anr. ....Respondents WITH ARBITRATION PETITION NO.286 OF 2008 L & T Finance Ltd. ....Petitioner V/s. Sachin S. Parakh & Anr. ....Respondents WITH ARBITRATION PETITION NO.287 OF 2008 L & T Finance Ltd. ....Petitioner V/s. Sachin S. Parakh & Anr. ....Respondents WITH ARBITRATION PETITION NO.288 OF 2008 L & T Finance Ltd. ....Petitioner V/s. Shantilal C. Parakh & Anr. ....Respondents Ms.Shakuntala Joshi with Ms.Sarika Karnik i/b S.I. Joshi & Co. for the Petitioner (in all the petitions). 2 arbp284-08g Mr.Nitin Deshpande i/b Mr.I.M. Koparkar for the Respondents (in all the petitions). CORAM : S.J. VAZIFDAR, J. DATE : 1ST SEPTEMBER, 2010. P.C. :- 1. The above petitions have been filed under section 9 of the Arbitration & Conciliation Act, 1996. 2. In each of the matters, the awards have been passed by the learned arbitrator. The vehicles which were hypothecated in favour of the petitioner to secure the repayment of the amounts due by the Respondents to the Petitioner under the loan-cum-hypothecation agreement were sold. The sale proceeds are only about Rs.30,00,000/-. The dues of the Petitioner are as of date about Rs.2,50,00,000/-. Interim orders are necessary considering the facts and circumstances of the case, especially the conduct of the Respondent which prima-facie indicates that the orders of this Court have been violated. In fact by an order dated 26.3.2009, show cause notices have been issued to the Respondents as to why action should not be taken for committing a breach of the orders passed by this Court. I have today ordered that the evidence be recorded in respect of the show cause notices. 3. In the circumstances, the above petitions are disposed of by the following order :- i). The Respondents in each of the petitions shall disclose on affidavit on or before 29.9.2010 all their assets, movable and immovable. Pending the realisation of the amounts due under the award, the 3 arbp284-08g Respondents shall not dispose of, alienate, encumber, part with possession of or create any third party right, title and/or interest in, to, upon or in respect of their immovable properties without the leave of the Executing Court. Upon the Respondents filing the affidavits, as stated above, liberty to the Petitioner to apply for further interim reliefs in the execution proceedings. All the above petitions are accordingly disposed of.