SWAPNA JAIN Vs. R.SRIRAM

JUDGEMENT

(1.) This application is filed under Section 11 (6) of the Arbitration and Conciliation Act, 1996 (for short 'the Act') read with Scheme for Appointment of Arbitrator, 2000 to appoint an arbitrator to resolve the disputes between the applicant and the respondent.

(2.) It is the case of the applicant that the applicant entered into loan agreement with pledge of shares on 27.12.2010 with SAAG RR Infra Limited, to which, the respondent stood as a guarantor in respect of the said loan amount. Subsequently, disputes arise between the applicant and the borrower in respect of payment of loan amount. The applicant issued notice dated 30.07.2015 to the respondent demanding payment of loan amount and also invoking arbitration clause in the said loan agreement. The respondent issued reply notice dated 07.08.2015 disputing the claim of the applicant, but however, has not disputed the existence of arbitration clause. Hence, present application is filed for appointment of arbitrator.

(3.) Though notice is served on the respondent, no counter affidavit is filed opposing this application.