( 1 ) IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION USJ ARBITRATION PETITION NO.125 OF 2009 ARBITRATION PETITION NO.125 OF 2009 ARBITRATION PETITION NO.125 OF 2009 Kotak Mahendra Bank Ltd. ..Petitioner V/s. Kesavprasad Ramdeosing Yadav & Anr. ..Respondents ...... Mr. Nikhil and Mr. Rahul Mehta i/by Disha Karambar for the petitioner None for the respondents ...... CORAM : R.Y. GANOO, J. CORAM : R.Y. GANOO, J. CORAM : R.Y. GANOO, J. DATED : 12th March, 2009 DATED : 12th March, 2009 DATED : 12th March, 2009 P.C.: P.C.: P.C.: 1. By order dated 24th February, 2009 ad-interim injunction in terms of prayer clause (b) was granted. Matter was posted today for final hearing. Nobody is present on behalf of the respondents. 2. Heard learned advocate for the petitioner. After having heard learned advocate for the petitioner, I am inclined to observe that pending the disposal of the Arbitration Petition, injunction in terms of prayer clause (b) can be granted so that further transfer of the suit Vehicle will get stopped. I am also inclined to observe that it would be necessary to appoint the High Court Receiver so that ( 2 ) the Receiver will be able to take charge of the said Vehicle and sell it and handover the sale proceeds to the petitioner after deducting the expenses for the sale as well as the Receiver’s charges. 3. In view of this, I am inclined to grant relief in terms of prayer clause (c) excluding the bracketed portion "In the alternative". Hence, the following order. ORDER ORDER ORDER (i) There shall be an injunction in terms of prayer clause (b) against the respondents. (ii) There shall be an order in terms of prayer clause (c). (iii) It is further ordered that after the suit vehicle is sold, the Receiver shall deduct the expenses for the sale as well as his charges and pay amount so arrived at to the petitioner. (iv) The said amount shall be adjusted by the petitioner towards the total dues payable by the respondents. ( 3 ) (v) Upon payment of aforesaid amount to the petitioner, Receiver shall stand discharged without any further order of this Court. (vi) Arbitration Petition stands disposed of in the above terms with no order as to costs. (R.Y. GANOO, J.) (R.Y. GANOO, J.) (R.Y. GANOO, J.)