ANURAG SINGH Vs. INDIABULLS FINANCIAL SERVICES LTD

JUDGEMENT

(1.) PRESENT petition is filed assailing the order dated 30.07.2014, passed by Additional District Judge,Vikasnagar, Derhadun in arbitration execution case no. 33 of 2013.

(2.) THE brief facts of the present case inter alia are that petitioner took loan of Rs. 5,55,000/ - from the respondents to purchase a truck and loan was to be repaid in 43 installments of Rs. 18,989/ - each. When the petitioner failed to pay installments as agreed, a notice was issued to the petitioner by the respondents calling the petitioner to refund the entire outstanding amount along with the interest. Thereafter, matter was referred to Mr. Anis Ahmad, Sole Arbitrator saying that petitioner had consented to refer the matter to Mr. Anis Ahmad, Sole Arbitrator as per arbitration agreement. Learned Arbitrator issued notice to the petitioner, however, despite valid service of the notice sent by the Sole Arbitrator, petitioner failed to appear before the learned Arbitrator, therefore, learned Arbitrator proceeded ex -parte against the petitioner and was pleased to pass award in favour of the respondents on 20.06.2011. Award so passed was put to execution in the court of Additional District Judge, Vikasnagar, Dehradun.

(3.) HAVING received notice from the executing court, petitioner submitted his objections under Order 21 Rule 26 of C.P.C. to stay the execution proceedings and to set aside the award. Learned executing court, vide impugned order dated 30.07.2014, was pleased to reject the application so filed by the petitioner/judgment debtor.