SNEHLATA Vs. MAHINDRA AND MAHINDRA FINANCE LTD

JUDGEMENT

(1.) Appellant impugns order dtd. 8/4/2021 whereby the Petition under sec. 9 of the Arbitration and Conciliation Act, 1996 of the appellant was dismissed.

(2.) Appellant had availed of a loan for purchasing a Maruti Ertiga vehicle, a green commercial vehicle for commercial purposes. On account of non payment of EMIs, Respondent had sought to initiate coercive action. Appellant filed the Subject Petition under sec. 9 of the Arbitration Act.

(3.) The Trial Court in the Impugned order has noticed the submissions of the respondent that as on 8/4/2021, 13 EMIs were payable by the appellant in respect of both the loan agreements. It was also noticed that after grant of moratorium of five months, the EMIs were to be recovered from the appellant.