1 JPP IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 920 OF 2009 L & T Finance Limited. ... Petitioners. V/s. Mr. Manish Manimuthu Thevar & Anr. ... Respondents. Ms. Shakuntala Joshi i/b. S.I. Joshi & Co. for the Petitioners. None for the Respondents. CORAM : R.Y. GANOO, J. DATED : 20th APRIL 2010. P.C. :- Affidavit of service is filed. Respondents are served. 2. Heard learned Advocate for the Petitioners. The Petition can be disposed of finally. Respondent No.1 is the Borrower and Respondent No.2 is the Guarantor. The loan cum hypothecation agreement entered into between the Petitioners and Respondent No.1 permits the Petitioner to take possession of the Bus which is the subject matter of the loan 2 agreement. In my view, in a situation like this it would be proper if an order is passed against Respondent No.1 as not to create third party rights or part with possession in regard to said bus. If the loan cum hypothecation agreement permits, the Petitioners to take possession or to deal with the said bus , such an order can be passed. The Petitioners can be permitted to do so. Hence, following order is passed to dispose of this Petition :- (i) Pending the hearing and final disposal of the Arbitration proceedings, Respondent No.1 is restrained from creating third party rights or part with possession in regard to bus in question. (ii) The Petitioners are permitted to take possession of the said bus under loan cum hypothecation agreement and to deal with the said bus in accordance with the said agreement. (iii) If the Petitioners require police help, they are free to approach the concerned police station and 3 upon payment of necessary government charges for police assistance, the concerned police officer will assist the Petitioners in taking charge of the said bus. (iv) The Petition stands disposed of in the above terms with no order as to costs. (R.Y. GANOO, J.)