SREI EQUIPMENT FINANCE LIMITED Vs. SAMINENI SWAPNA

JUDGEMENT

(1.) This arbitration petition is for interim measure.

(2.) He submits, in spite of due invocation guarantor did not pay. Clause 33 in the guarantee provides for arbitration clause and arbitration is contemplated. At this time interim measure is necessary to prevent guarantor from seeking to frustrate the claim of his client. On query from Court regarding clause 29 in the guarantee he submits, guarantor did not furnish list of immovable or movable properties held by her. He hastens to add, his client has obtained statement of encumbrance on properties held by guarantor, as heir of her deceased husband who was customer of his client. The certificates are at pages 139 to 149 of the petition. He submits, affidavit of service has been filed to show good service of the petition on said respondent. Affidavit bears postal receipt showing consignment no.EW251374943IN despatched to said respondent, against which postal track record shows that on 10th April, 2019 it was delivered as 'unclaimed'. He submits further, her husband as customer of his client had wilfully and deliberately defaulted in repaying the accommodation. Guarantee provides for his client to sue the guarantor as principal debtor. Money has become due on the guarantee.

(3.) Petitioner will obtain and serve copy of this order on respondent no.1 for her to be given yet another opportunity to come and be heard, failing which Court will deal with this petition on considering list of properties, shown in the statement of encumbrance on property document, to be held by said respondent, as correct. Petitioner will file affidavit of service.