1 arbp1450-10g vai IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.1450 OF 2010 L & T Finance Limited ....Petitioner V/s. Mrs.Bharati Magoo & Ors. ....Respondents WITH ARBITRATION PETITION NO.1453 OF 2010 L & T Finance Limited ....Petitioner V/s. Jaideep Dahatonde & Anr. ....Respondents WITH ARBITRATION PETITION NO.1461 OF 2010 L & T Finance Limited ....Petitioner V/s. Parampal Enterprises, Prop.Mr.Parampal Singh & Anr. ....Respondents WITH ARBITRATION PETITION NO.1462 OF 2010 L & T Finance Limited ....Petitioner V/s. M/s.Madhukar D. Patil Construction, Through Prop. Mr.M.D. Patil & Anr. ....Respondents WITH ARBITRATION PETITION NO.88 OF 2011 L & T Finance Limited ....Petitioner V/s. M/s.Rajendra Kumar Garg & Anr. ....Respondents WITH 2 arbp1450-10g ARBITRATION PETITION NO.286 OF 2011 L & T Finance Limited ....Petitioner V/s. Rangnath H. Nagargoje & Ors. ....Respondents Mr.Durgesh Singh with Ms.Gayatri Athare i/b India Law for the Petitioner. None for the Respondents. CORAM : S.J. VAZIFDAR, J. DATE : 25TH APRIL, 2011. P.C. :- 1. These are petitions under section 9 of the Arbitration and Conciliation Act, 1996. 2. Respondent No.1 in all the petitions is the borrower. Respondent No.2 in all the petitions are the guarantors. Respondent No.3 in Arbitration Petition No.1450 of 2010 is also a guarantor. The petitioner and respondent No.1 in each of the petitions have entered into the loan cum hypothecation agreements. The dues thereunder were secured by the hypothecation of the vehicles referred to in each of the agreements. 3. The respondents have remained absent, though served. There is no affidavit in reply. Prima-facie the amounts are due and payable and the same are secured by the hypothecation of the said vehicles. 4. In the circumstances, the above petitions are disposed of by the following order :- i). The petitions are made absolute in terms of prayers (a), except the words bracketed in read and (b). Prayer (b) shall be complied with 3 arbp1450-10g within two weeks from the copy of this order being served upon the respondents. ii). The Court Receiver shall appoint the respective respondents as his agent of the respective vehicles on the usual terms and conditions including as to security and royalty. iii). In the event of the respondents refusing to accept the agency of the Court Receiver, the petitioner is at liberty to apply for further orders including for the sale of the vehicles and/or appointment of any other party as an agent of the Court Receiver. iv). Till the Court Receiver takes possession, order in terms of prayer (c) except the words bracketed in red. v). The undertaking to file the affidavit of service, if not already filed within two weeks from today, is accepted. No order as to costs.