ITC LIMITED Vs. MR. SHALEEN GAMBIR AND ANR.

JUDGEMENT

(1.) Arb. P. No. 4/2009 & IA No. 154/2009

(2.) NOTICES of the petition under Section 11(6) of the Arbitration and Conciliation Act, 1996 were sent to the respondents pursuant to the order dated 9th January, 2009. Notices have been served on the respondents by registered A.D. post. No one is present on behalf of the respondents. They are, therefore, proceeded ex parte in the facts and circumstances.

(3.) THE respondent No. 2 had also stood guarantor for due performance of the terms agreed between respondent No. 1 and ITC Hotels Ltd. He was a party to bond dated 3rd July, 2002 executed between the ITC Hotels Ltd. and respondent No. 1. The bond (Service Agreement dated 3rd July, 2002) also has an Arbitration Agreement in terms of Clause 19 which reads as under: