1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 444 OF 2009 Kotak Mahindra Bank Ltd., a banking Company incorporated within the meaning of the Banking Regulation Act, 1949 having its registered Office at 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai-400 021 and branch offices at 2nd Floor, Danir Corporate Park, 158, C.S.T. Road, Kalina, Santacurz-East, Mumbai-400 098 and Vinay Bhavya Complex, 5th Floor, 159-A, C.S.T. Road, Kalina, Santacruz-East, Mumbai. ...Petitioner. Vs. 1 Pradeep Bhagwan Jamadar, H. No. 976, Kasha Tal. Indapur, Dist. Pune- 413 106. 2 Balaso Mhalani Borate, At post Navhi, Tq. Indapur, Dist. Pune-413 132 ...Respondents. Mr. Nikhil Mehta with Mr. Rahul Mehta with Ms. Disha Karambhar for the Petitioner. None for the Respondents. CORAM :- ANOOP V. MOHTA, J. DATED :- 25th SEPTEMBER, 2009. ORAL JUDGMENT- 2 1 The petitioner has invoked Section 9 of the Arbitration and Conciliation Act, 1996 (for short, the Act), the as respondents failed to make payments as per the agreement of loan, having arbitration clause. 2 None appeared for the Respondents, though served twice. An affidavit of service is placed on record. The Respondents have unclaimed the private, as well as, the Court notice. The averments, therefore, so made with regard to the due payment as well as apprehension so raised ramained uncontroverted. The Respondents have been using the vehicles without due payments. Therefore, all the elements as required under Section 40 of the Code of Civil Procedure, ( for short, C.P.C.) are available. 3 This Court has already granted prayer clause (g). Now, in view this, I am inclined to grant the petition in terms of prayer clause (a). The prayer clause (g) is also confirmed. 4 However, liberty is granted to the Respondents to settle the matter and or furnish the security to the extent of amount involved. 5 I do not deny, the right of Respondents to raise plea or defence before the Arbitral Tribunal, if so constituted. 6 The Petition is accordingly allowed in terms of prayer clause (a) and (g), with liberty. No order as to costs. (ANOOP V. MOHTA, J.)