SIGMATIC NIDHI LTD. Vs. SURESH KUMAR

JUDGEMENT

(1.) Petitioner is a Limited Company carrying on the business of financial assistance. First respondent obtained financial assistance from the petitioner - Company and the second respondent is a co-borrower. Annexure A2 is a document dtd. 8/2/2022 signed by the respondents which contains an arbitration clause. Though it is in the form of an agreement, it is not signed by any representative of the petitioner.

(2.) Respondents committed default in repayment. According to the petitioner, they have made several efforts to persuade the respondents to discharge the liability. On failure of the respondents to pay the amounts, arbitration clause was invoked by the petitioner.

(3.) Notice was issued to the respondents and service is complete in this arbitration request. However, there is no appearance for them.