MOTOR AND GENERAL FINANCE LIMITED Vs. MANORANJAN SINGH

JUDGEMENT

(1.) JUDGEMENT (ORAL) , J.-

(2.) THIS petition under section 20 of the Arbitration Act, 1940 has been filed by the Motor & General Finance Ltd. (the petitioner) stating the Manoranjan Singh, respondent No. 1. had taken on hire from the petitioner a motor vehicle bearing Engine No. 692. D 01.1.19205, Chassis No. 344.073.1.12397 and registration No. BHU 8821 under hire purchase agreement dated 7th November, 1981 and had paid a sum of Rs. 32,167.57 and had agreed to pay the monthly instalments of Rs. 6,600.00 for 33 months and thereafter two monthly instalments of Rs. 6,500.00 each for 34th and 35th months and if he had paid the instalments, he would have the option to purchase the vehicle but in case of default, tlie vehicle had to be returned to the petitioner along with hire money them due. It has further been stated that Uday Pratap Singh, respondent No. 2, was guarantor of respondent No. 1 for due performance of the terms of the contract. It has further been pleaded that the contract between the parties contained clause no. 6 according to which all disputes and differences arising out of the hire purchase agreement would be settled by arbitration and would be referred to the sole arbitration of Shri Shashi Vanshi Bahadur, Advocate, Delhi or in case of his death,refusal, neglect, incapability to act as an arbitrator, to the sole arbitration of Shri Inderjit Gulati, Advocate.

(3.) THE petitioner has fild affidavit of Shri K.N. Wahal, general attorney of the petitioner company. In the affidavit it has been stated that the original hire purchase agreement dated 7th November, 1981 is not traceable in the office of the petitioner and it appears to have been lost during the time the office of the petitioner was shifted from Asaf Ali Road to Darya Ganj. Photostate copy of the agreement has been filed.