D D LEASING LIMITED Vs. MORGAN TECTRONICS LTD

JUDGEMENT

(1.) This is a petition under Section 11(6) of Arbitration and Conciliation Act, 1996 by the petitioner for appointment of an arbitrator in terms of arbitration agreement between the parties.

(2.) The petitioner contended that the petitioner company is engaged in the business of leasing finances and has a registered office at Milan Cinema Building, Karampura, New Delhi. The petition is filed by Shri R.P. Sabhlok, authorised representative of the company, who has been authorised vide resolution dated 31st October, 2000, a copy of which has been produced by the petitioner.

(3.) The petitioner asserted that it received a proposal from the respondents for giving on lease one Infra Red Thermal Imaging System Model 325 and 2 Nos. Environmental Chamber Model T-30 RC and T-30C costing Rs.5,50,000/- for a period of 36 months. The petitioner company agreed to give on lease the said equipment and an agreement bearing No.DDL/MCH/LS/318/95 was executed on 1st March, 1995. Under the agreement, respondent No.2 and respondent No.3 also stood guarantor for respondent No.1. The petitioner produced a copy of agreement dated 1st March, 1995.