Ashis Kumar Chakraborty, J. - (1.) This is an application under Section 9 of the Arbitration and Conciliation Act, 1996 as amended by the Amending Act 3 of 1996.
(2.) From the affidavit of service filed on behalf of the petitioner, it appears that the copies of this application were served upon both the respondents by way of Speed Post with Acknowledgement Due. However, none appears on behalf of any of the respondents to oppose this application. Let, the affidavit of service be kept with the record.
(3.) It is the case of the petitioner that in terms of the agreement dated February 22, 2015 (hereinafter referred to as 'the said agreement') the respondent No. 1 obtained a loan of Rs. 18,26,800/- and acquired a JCB 3DX Backhoe Loader mentioned in paragraph 3 of the application. The said JCB loader remains hypothecated in favour of the petitioner. The respondent No. 2 as the guarantor is a party to the said agreement, which also contains an arbitration clause.;