1 arbp903.09.sxw ssm IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 903 OF 2009 Citicorp Finance (I) Ltd. ....Petitioner. Vs. Pralhad Nandlal Agarwal & Anr. ....Respondents. Mr. H. Rehman a/w Mr. Sachin Pandey i/by M/s. D.H. Law Associates for the Petitioner. None for the Respondents. CORAM : ANOOP V. MOHTA, J. DATE : 14th JANUARY, 2011 P.C.: The Petitioner has filed an affidavit of service. None appeared for the Respondents again. After considering the averments so made, this Court on 21 st November, 2009 admitted the matter and granted interim relief in terms of prayer clauses (b) and (e) and subsequently, by order dated 29 th October, 2010, granted ad-interim reliefs in terms of prayer clause (d) except the bracketed portion also. The learned counsel appearing for the Petitioner makes statement that till this date the vehicle (construction equipment) could not be taken in possession. The Respondents, in the result, have been using the said vehicle without making the due payment. 2 As based upon the loan-cum-hypothecation agreement entered into between the parties, the Respondents committed defaults in 2 arbp903.09.sxw ssm making the payment and the amount is now over Rs. 14 lacs and as the averments so made remained uncontroverted till this date, in my view, the Petitioner has made out a case as contemplated under Section 9 of the Arbitration and Conciliation Act. Arbitration proceedings are going on. The Respondents are not appearing even before the Arbitrator. 3 In view of this, there is no point in keeping this matter pending. I am inclined to allow this Petition in terms of prayer clauses (b), (d) except the bracketed portion and (e). 4 In view of above, as the Respondents are not coming forward, still the liberty is granted to them to apply for modification of the order and/or for settlement, if any. 5 The Petitioner is free to take steps in accordance with law even to sell the vehicle through the Court Receiver, subject to charges & expenses. 6 The petition is accordingly allowed. No costs. (ANOOP V. MOHTA, J.)