1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION (L) NO.1538 OF 2009 L & T Finance Limited ...Petitioner vs. Gaddam Sudhakara Reddy & Anr. ...Respondents ARBITRATION PETITION (L) NO.1539 OF 2009 L & T Finance Limited ...Petitioner vs. Kaapu Rami Reddy & Anr. ...Respondents ARBITRATION PETITION (L) NO.1540 OF 2009 L & T Finance Limited ...Petitioner vs. Bharamappa H.Talwar & Anr. ...Respondents Ms Disha Karambar for the Petitioner in all petitions None for the Respondent CORAM :A.S.OKA,J. DATE : DECEMBER 17, 2009 P.C. 1 On 17 th November 2009 this court issued notice for final disposal. The learned counsel for the petitioner states that the 1 st respondent in these petitions have been served and a proper affidavit of service will be filed within a period of three weeks from today. She states that the petitioner is not pressing for any relief as against the 2 nd respondent. 2 2 These are the petitions under section 9 of the Arbitration and Conciliation Act,1996. In these three petitions, the 1 st respondent is the borrower and the 2 nd respondent is a guarantor. The loan was granted by the petitioner to the 1 st respondent for purchasing tractors under Kisan Gaurav Scheme which is a retail finance scheme for purchase of tractors. A hypothecation cum loan agreement was executed by the 1 st respondent in favour of the petitioner. As the 1 st respondent committed default, a legal notice was issued by the Advocate for the petitioner calling upon the respondents to pay the outstanding amount. In the loan cum hypothecation agreement there is an arbitration clause which was invoked by the petitioner and an Arbitrator was appointed as per the clause no.14 of the said agreement. 3 The averments made in the petition disclose that the neither the borrower nor the guarantor have paid any amount to the petitioner. 4 The petitioner has established the hypothecation of the tractors more particularly described in Exh. F annexed to the petitions. For protecting the said security, an appointment of the Court Receiver as prayed for in prayer clause (a) will have to be granted. 5 Hence, petitions are made absolute in terms of 3 prayer clause (a). It is made clear that the Court Receiver will act upon an authenticated copy of this order only after the petitioner communicates to the Court Receiver in writing the details of the present location of the hypothecated assets. 6 Till the Court Receiver takes possession, ad-interim relief granted by this court on 17 th November 2009 will continue to operate. 7 The petitions are disposed of in above terms. 8 The Court Receiver to act upon an authenticated copy of this order. JUDGE