1 arbp1020-10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.1020 OF 2010 Kotak Mahindra Prime Ltd. ....Petitioner V/s. Satish B. Giri ....Respondent Mr.Amol Arote i/b Goenka Law Associates for the Petitioner. None for the Respondent. CORAM : S.J. VAZIFDAR, J. DATE : 22ND NOVEMBER, 2010. P.C. :- 1. The petition has been filed under section 9 of the Arbitration and Conciliation Act, 1996. 2. According to the petitioner a sum of over Rs.3,00,000/- is due and payable by the respondent to the petitioner in respect of a loan-cum- hypothecation agreement granted by the petitioner to the respondent for purchase of the vehicle. The respondent has failed to pay the amount, the petitioner invoked the arbitration agreement. It is necessary therefore to protect the petitioner’s claim pending arbitration. 3. In the circumstances, the following order is passed :- i). The petition is made in terms of prayer (c). ii). The Court Receiver shall, in the first instance, appoint the respondent as his agent on usual terms and conditions and in the event of the respondent failing to accept the agency of the Court Receiver, the 2 arbp1020-10 Court Receiver to appoint any third party as an agent in respect of the said vehicle on the same terms and conditions. In that event the respondent shall be entitled to bid for the agency. iii). Till the Court Receiver takes possession of the vehicle, order in terms of prayer (d).