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 2016.
(2.) From the affidavit-of-service filed on behalf of the petitioner, it appears that the postal authority has issued a certificate that the respondents have received copies of this application. However, none appears on behalf of the respondents to oppose this application.
(3.) It is the case of the petitioner that in terms of an agreement dated December 31, 2014 entered into between the parties (hereinafter referred to as "the said agreement"), the respondent No. 1 obtained a loan of Rs. 42,95,920/- for purchasing the asset mentioned in paragraph 2 of the application, which 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 agreement;