A Financial Institution institutes a suit for re-possession of a vehicle subject matter of Hire Purchase Agreement with the defendant and for recovery of hire charges. The Hire Purchase Agreement produced by the plaintiff along with the plaint contains an arbitration clause for reference of such claims to arbitration of a reputed named advocate. The court shall:
A. Not admit the suit owing to subject matter thereof being the subject matter of Arbitration Agreement
B. Not admit the suit owing to subject matter thereof being the subject matter of Arbitration Agreement and refer the dispute to arbitration
C. Issue summons of the suit
D. Dismiss the suit
Answer: Option C
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