SHIVA CARRIERS Vs. ROYAL PROJECTS LIMITED

JUDGEMENT

(1.) THIS application has been taken out without mentioning any section of Arbitration and Conciliation Act, 1996 but claiming following reliefs.

(2.) ADMITTEDLY this application has been made in connection with and in relation to arbitration agreement entered into by and between the petitioner as Financier on the one hand and the respondent No. 1 as a principal debtor and the respondent No. 2 as the guarantor on the other hand.

(3.) THERE are other grounds strongly urged by Mr. Bachawat to maintain this application and has argued the reliefs claimed, the sum and substance of which is for replacement ofthe respondent No. 3 being the named arbitrator. He argues that the maintainability of this application owing to lack of pecuniary jurisdiction of this Court is of no substance as the subject-matter of the application being the value of the vehicle and the amounts payable under the agreement are in excess of Rs. 10 lakhs.