1 arbpl432-11 vai IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION (LODGING) NO.432 OF 2011 Reliance Capital Limited ....Petitioner V/s. Autograph Cars India Pvt. Ltd. & Ors. ....Respondents Mr.Rahul Mehta i/b KMC Legal Venture for the Petitioner. None for the Respondents. CORAM : S.J. VAZIFDAR, J. DATE : 20TH JUNE, 2011. P.C. :- 1. This is a petition under section 9 of the Arbitration and Conciliation Act, 1996. 2. According to the petitioner an amount of over Rs.70.00 lacs is due and payable by the respondents to the petitioner in respect of the mortgage loan agreement entered into between the parties. Respondent No.1 is a borrower. The other respondents are co-borrowers. The repayment of the amount is secured by a mortgage in respect of the immovable property being a residential flat. The respondents were absent when the ad-interim order was passed on 5.5.2011. They are absent today. 3. Respondent Nos.2 and 3 are also private limited companies. There has been no response from any of the respondents in respect of the demand for repayment. 4. In the circumstances, the following order is passed :- 2 arbpl432-11 i). The petition is made absolute in terms of prayer (a) except the words bracketed in red. The Court Receiver shall, in the first instance, appoint any of the respondents as his agent on the usual terms and conditions including as to security and royalty. ii). However, in the event of their refusing to accept the agency of the Court Receiver, the Court Receiver shall appoint any third party as his agent in the usual manner. iii). In that event liberty to the respondents to bid for the agency of the Court Receiver. iv). Till the Court Receiver takes possession, order in terms of prayer (c) except the words “dealing with” bracketed in red. v) Costs shall be the costs in the petition. The arbitration petition is accordingly disposed of.