1 MNM IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS NO.506 OF 2010 IN ARBITRATION PETITION NO.285 OF 2008 L & T Finance Ltd. ....Petitioner Vs. Mrs. Surjabai Shantilal Parakh & Ors. ...Respondents WITH CHAMBER SUMMONS NO.507 OF 2010 IN ARBITRATION PETITION NO.286 OF 2008 L & T Finance Ltd. ....Petitioner Vs. Mr. Sachin Shantilal Parakh & Ors. ...Respondents WITH CHAMBER SUMMONS NO.508 OF 2010 IN ARBITRATION PETITION NO.288 OF 2008 L & T Finance Ltd. ....Petitioner Vs. Mr.Shantilal Chunilal Parakh & Ors. ...Respondents 2 WITH CHAMBER SUMMONS NO.509 OF 2010 IN ARBITRATION PETITION NO.284 OF 2008 L & T Finance Ltd. ....Petitioner Vs. Mr. Shantilal Chunilal Parakh & Ors. ...Respondents WITH CHAMBER SUMMONS NO.510 OF 2010 IN ARBITRATION PETITION NO.287 OF 2008 L & T Finance Ltd. ....Petitioner Vs. Mr. Sachin Shantilal Parakh & Ors. ...Respondents Mrs. S.I. Joshi i/b. S.I. Joshi & Co., for the Petitioner Mr. N.P. Deshpande with Mr. I.M.Koparkar for Respondents 1 & 2 Mr. Vyas, Court Receiver present. CORAM : SMT. ROSHAN DALVI, J. DATED : 5TH APRIL, 2010 P.C. : 1. The Respondents who are the borrowers have given consent for sale of the buses which have been hypothecated to the Petitioner. Several offers have been received for the sale of the buses which are in damaged condition, which include parking charges. The highest offer is of Rs.29 lakhs. 3 2. The Petitioner shall be entitled to sell the hypothecated buses to the party who has given the offer of Rs.29 lakhs including parking charges. 3. The Petitioner shall be entitled to proceed in execution thereupon. 4. The Petitioner shall pay the Court Receiver’s fees, charges, costs as well as commission as per Rules from the proceeds of the sale. 5. All the above Chamber Summons are disposed off accordingly. (SMT. ROSHAN DALVI, J.)