: 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 ARBITRATION PETITION NO.206 OF 2007 ARBITRATION PETITION NO.206 OF 2007 ARBITRATION PETITION NO.206 OF 2007 Rajkumari Virendra Mishra & Ors. .. Petitioners. Versus Manoj Surendrakumar Mishra & Ors. .. Respondents. Mr.T.R.Shah for petitioners. CORAM : S.C.DHARMADHIKARI, J. CORAM : S.C.DHARMADHIKARI, J. CORAM : S.C.DHARMADHIKARI, J. DATE : 24th AUGUST, 2007. DATE : 24th AUGUST, 2007. DATE : 24th AUGUST, 2007. P.C.: P.C.: P.C.: 1. The learned Advocate, appearing for petitioners states that at this stage, petitioners are not insisting upon the amounts, which are lying with the Bangalore Branch of the Indian Overseas Bank to be transferred to Mumbai. All that is being requested is that the amounts lying in Current Account Nos.65 and 69 so also amounts lying in Current Account No.21 be invested in fixed deposit, initially for a period of six months and to be renewed as and when necessary. 2. My attention is invited to the petition and the annexures thereto and it is contended that the petitioners : 2 : are ready and willing and in fact have taken all steps for appointment of an Arbitrator. Arbitration Application No.194 of 2006 is pending for the said relief. It is contended that the amounts are lying in the Bank pursuant to the arrangement between parties when business was carried on in partnership. However, on account of certain disputes and differences, the business is stopped but the amounts are lying in the above mentioned Bank Accounts. The amounts are lying idle and without fetching any interest. My attention is invited to correspondence between parties, wherein all that the contesting respondents seek is details of accounts. Learned Advocate, appearing for the petitioners produces copies of certificates from the concerned Branch of the Indian Overseas Bank. The same are marked collectively as "X" for identification. 3. The 1st respondent is appearing in person. He has been duly intimated of the date and time at which this petition would be taken up by this Court. He was present on the earlier occasion. The learned Advocate, appearing for the petitioners informs me that the 1st respondent has been intimating in writing about his not being in Bombay intermittently.However, if the 1st respondent has filed an affidavit and was aware of the date and time at which this petition would be taken up by this Court, it was his duty : 3 : to appear before the Court and seek accommodation, if any. He is not present when the matter is called out. Thus, in these circumstances and considering that no prejudice would be caused to him, I have proceeded with the hearing of this petition. 4. Having perused the petition and the annexures thereto so also the affidavit in reply, I am of the opinion that the 1st respondent, who is appearing in person was given sufficient opportunities to object to the reliefs being granted. The reliefs being granted would subserve the ends of justice inasmuch as none benefits if the amounts are lying idle. If the same are invested in fixed deposit, they will earn some interest. The affidavit in reply raises number of issues, which go to the merits of the matter, with them, presently I am not concerned. 5. In my view, considering the limited relief that is sought and that the same subserving the ends of justice, it would be fair, just and proper, if this arbitration petition is made absolute to a limited extent. 6. The arbitration petition, therefore, stands disposed of with a direction to both branches of the Indian Overseas Bank to invest the amounts lying in the : 4 : subject current accounts in fixed deposit, initially for a period of six months from today and, thereafter to be renewed subject to further orders and directions sought from this Court or from the Arbitral Tribunal. It is made clear that the amounts have to be held by the bankers and no disbursement or withdrawal be permitted therefrom. It would also be just and proper that the amounts, which are lying in fixed deposit with the Indian Overseas Bank, Branch MRC Extension Counter, Ground Floor, Bombay Hospital, Marine Lines, Bombay are reinvested by renewing the fixed deposit for a period of six months from today. 7. The arbitration petition is made absolute in the above terms. (S.C.Dharmadhikari, J.) (S.C.Dharmadhikari, J.) (S.C.Dharmadhikari, J.)