SHRIRAM CITY UNION FINANCE LTD. Vs. K.SELVAM

JUDGEMENT

(1.) The claimant is the appellant before this Court and the challenge is to the order setting aside the Arbitral Award passed by the Principal District Judge, Puducherry in Arbitration O.P.No.13 of 2016 dtd. 25/2/2020.

(2.) The brief facts preceeding the filing of this appeal are as follows:

(3.) In addition to the loan agreement, the respondents had also executed a promissory note and issued post dated cheques. After making some payment the respondents completely stopped paying the EMIs. The claimant would submit that the respondents did not come forward to clear their dues. In fact by letter dtd. 10/4/2015 issued to the respondents, the claimant had invoked the Arbitration Clause and had informed them about the appointment of the arbitrator and that as on 8/4/2015 a sum of Rs.11,84,177.90 was due.