The high court made arbitration petitions under section 9 absolute, granting interim orders to appoint a court receiver to take possession of hypothecated vehicles and appoint respondents or third-party agents.
Petitions made absolute; appointment of court receiver to take possession of hypothecated vehicles and appoint agents.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
ARBITRATION PETITION NO.707 OF 2010
Kotak Mahindra Prime Ltd. ....Petitioner V/s.
Pravin M. Gajeralwar
....Respondent
WITH
ARBITRATION PETITION NO.709 OF 2010
Kotak Mahindra Prime Ltd. ....Petitioner V/s.
Vilasrao D. Shengde ....Respondent
WITH
ARBITRATION PETITION NO.710 OF 2010
Kotak Mahindra Prime Ltd. ....Petitioner V/s.
Liyakat A. Shaikh ....Respondent
WITH
ARBITRATION PETITION NO.711 OF 2010
Kotak Mahindra Prime Ltd. ....Petitioner
V/s.
Surinder S. Sodhi ....Respondent
WITH ARBITRATION PETITION NO.712 OF 2010
Kotak Mahindra Prime Ltd. ....Petitioner V/s.
Darshan M. Shah ....Respondent
WITH
ARBITRATION PETITION NO.713 OF 2010
Kotak Mahindra Prime Ltd. ....Petitioner V/s.
Anand S.J. Oberoi ....Respondent
Mr.Prasad Das with Mr.Amol Arote i/b M/s.Goenka law Associates for the Petitioner.
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None for the Respondents.
CORAM : S.J. VAZIFDAR, J. DATE : 15TH NOVEMBER, 2010.
P.C. :-
4 (i). In the circumstances, the above petitions are made absolute in terms of prayer (c). Till the Court Receiver takes possession, order in terms of prayer (d).
(ii) Liberty to the Court Receiver to apply in the event of any difficulty in taking possession of the vehicle.
(iii) Upon taking possession of the vehicle, the Court Receiver shall, in the first instance, appoint the Respondents as an agents in respect of the said vehicles on usual terms and conditions including as to security and royalty.
(iv) In the event of the Respondents refusing to accept agency of the Court Receiver, the Court Receiver shall appoint any third party as an
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agents in respect of the said vehicle on the same terms and conditions. (v) Liberty to apply for further reliefs including in respect of those reliefs which have not been granted by this Court, after the Court Receiver takes possession and in the event of the security being inadequate to meet the alleged claims of the Petitioner. All rights and contentions in that regard are kept open.
1 issue framed by the court
Whether interim orders under section 9 of the Arbitration and Conciliation Act, 1996 can be made absolute regarding hypothecated vehicles.
3 provisions across 3 enactments
Kotak Mahindra Prime Ltd.
Pravin M. Gajeralwar
Vilasrao D. Shengde
Liyakat A. Shaikh
Surinder S. Sodhi
Darshan M. Shah
S.J. VAZIFDAR
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
