M G F INDIA LIMITED Vs. PINKEY BHATIA

JUDGEMENT

(1.) The present petition is filed under Section 20 of the Indian Arbitration Act, 1940 for filing the Arbitration Agreement dated June 19,1991 in Court and for passing an order for reference of the disputes between the parties to the named Arbitrator.

(2.) The petitioner is a Company incorporated under the Indian Companies Act, 1913 and has its registered office at 17-B, Asaf Ali Road, New Delhi-110002. Shri Rajiv Gupta is Director-in-charge and constituted attorney of the petitioner company and is conversant with the facts of the case and is authorised by the power of attorney executed in his favour by the Board of Directors to initiate, sign, verify, institute and file the present proceedings. The petitioner company is carrying on the business of hire purchase and leasing at its registered office and purchased one Maruti 1000 CC A/C Car bearing Engine No.140399, Chassis No.105555 and Registered No. DL-5C-2525 from M/s Pasco Automobiles vide their Invoice No.0701-55012-NA dated 4.5.1991 for a sum of Rs.3,77,006.81. Thereafter the petitioner company entered into a lease agreement dated 19th June, 1991 in respect of the said vehicle with respondent no.1 and respondent no.2 signed the said agreement as guarantor for and on behalf of respondent no.1. The terms and conditions of the agreement are reproduced in paragraph 5 of the petition which reads as follows:-

(3.) The petitioner company has stated in paragraph 10 that at the time of filing of the present proceedings the following amounts have fallen due under the lease agreement:-