LOKESHWAR PRASAD - (1.)M/s Goodwill India Ltd., a Company incorporate under the provisions of the Indian Companies Act, 1913 ( hereinafter referred to as 'the petitioner') has filed the present petition under Section 20 of the Arbitration Act, 1940 (hereinafter referred to as 'the Act'), praying that 'Hire Purchase Agreement' dated the 29th September, 1989, containing the arbitration clause, be directed to be filed in the Court and the disputes mentioned in the petition be referred for decision to the named arbitrator Sh. Raj Pal Sagar, Advocate, Delhi.
(2.)It is averred that the petitioner company hired out a motor vehicle, bearing Engine No. 692.D 03.1.55285, Chassis No. 344.050.1.47795, Registered No. KEF 5083 to one Shri V.A. Thomas under the Hire Purchase Agreement' dated the 22nd January, 1986. The said agreement was for a a total sum of Rs. 2,60,000.00 which was payable in 48 monthly instalments w.e.f. 1st March, 1986 on the guarantee of Shri T.T. Cyriac. It is alleged that after making some of the payments said Shri V.A. Thomas expired on 17.1.1988 leaving behind his widow, respondent No. 1:
(3.)It is alleged that the above said vehicle was held by late Shri V.A. Thomas under the above said 'Hire Purchase Agreement' and the factum of the same was recorded with the Registering Authority, Earnakulam with the endorsement of the petitioner Company being Ae financer and the vehicle being held under 'Hire Purchase Agreement' with the petitioner Company.