abs IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER’S REPORT NO.103 OF 2009 IN ARBITRATION PETITION NO. 262 OF 2003 Rajesh M. Khadawala & Ors. .. Petitioners V/s Vithal Restaurant & Ors. .. Respondents Ms.Sanobar Nanavati for the petitioners. Ms.K.C. Nichani for respondent no.2. Mr.Hemang Jariwala with Mr.Mahesh Pol i/b Aurra Law for respondent no.3. Mr.G.V. Bhagwat i/b Divekar & Co. for respondent nos.4 to 6. Mrs.U.S. Srivastava, IInd Assistant to Court Receiver, present. CORAM : D.G. KARNIK, J. DATE : 2ND MAY 2009 P.C. P.C. P.C. : 1. Heard the learned counsel for the parties. 2. Learned counsel for the agent of the Receiver submits that the royalty amount fixed by the Receiver is too high and overlooks the present condition of - 2 - recession in the market. She submits that the agent is unable to pay the royalty fixed by the Receiver and the agent is therefore willing to surrender the possession of the suit premises to the Receiver. 3. The Receiver is directed to take possession of the suit premises as expeditiously as possible. The Receiver is then permitted to invite fresh bids. The fresh bids should be submitted for approval of the Court. 4. The Receiver is entitled to the costs of Rs.1,000/- to be recovered out of the royalty amount. 5. Court Receiver’s report is disposed off. (D.G. KARNIK, J.)