Ashis Kumar Chakraborty, J. - (1.) This is an application under Section 9 of the Arbitration and Conciliation Act, 1996, as amended by Act 3 of 2016.
(2.) From the affidavit filed on behalf of the petitioner, it appears that in terms of the order dated December 19, 2017, it has published the notice of this application in the newspapers. However, none appears on behalf of any of the respondents to oppose this application. Let the affidavit filed on behalf of the petitioner be kept on record.
(3.) The petitioner claims that in terms of an agreement dated January 22, 2016 (hereinafter referred to as "the said agreement") between the parties, the respondent No. 1 obtained a loan of Rs. 46,43,000/- for acquiring one Volvo Hydraulic Excavator(hereinafter referred to as the 'said asset') mentioned in paragraph 5 of the application. The said asset stands hypothecated with the petitioner. The respondent No. 2 as the guarantor is a party to the said agreement, which also contains an arbitration agreement.;