Reliance Capital Limited v. Vimal Chand Shrishrimal (Borrower) And 5 ORS

sg carbp85,86&87-16.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.85 OF 2016 AND COMMERCIAL ARBITRATION PETITION NO.86 OF 2016 AND COMMERCIAL ARBITRATION PETITION NO.87 OF 2016 Reliance Capital Limited ....Petitioner vs Vimal Chand Shrishrimal (Borrower) & Ors.

...Respondents

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Mr. Vivek Patil, i/b. Vivek Patil & Associates, for the Petitioner. ......

CORAM : S.C. GUPTE, J.

DATED: 8 JANUARY, 2019 P.C.:

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By an order dated 8 September 2016, Court Receiver was appointed of the Company with directions to take symbolic possession of the property. The Court Receiver was directed to consider willingness of the Respondents to act as agents of the receiver on such security and royalty as may be determined by the Receiver. Learned Counsel for the Petitioner submits that the Respondents have not indicated their willingness to act as agents of the receiver and, in the premises, as observed by this Court in its order dated 8 September 2016, it is open to the Petitioner to apply to the Court for further orders, including orders for attachment and sale of the property described in the petition through public treaty. Learned Counsel for the Petitioner Pg 1 of 2

sg carbp85,86&87-16.doc submits that the Petitioner proposes to take such steps. The arbitration petition is disposed of by confirming the order dated 8 September 2016 passed by this Court as an order pending hearing and final disposal of the arbitration proceedings with liberty to the Petitioner to take steps for seeking further orders as observed in the order dated 8 September 2016. ( S.C. GUPTE, J. ) Pg 2 of 2