V. MANJUNATHA REDDY Vs. KOTAK MAHINDRA PRIME LTD.

JUDGEMENT

(1.) This petition has been filed under Sec. 34 of the Arbitration and Conciliation Act, 1996 challenging the Arbitral Award dtd. 23/1/2021, under which, the petitioner was directed to pay sum of Rs.3,48,141.00(Rupees Three Lakhs Forty Eight Thousand One Hundred an Forty One only) together with interest at 18% per annum from 29/2/2020 till the date of realization and was also directed to hand over the vehicle, which is the subject matter of the Loan agreement dtd. 22/5/2018 to the first respondent. The petitioner was also directed to pay the cost of the Arbitration Proceedings. Aggrieved by the aforementioned Arbitral Award, this petition has been filed under Sec. 34 of the Arbitration and Conciliation Act, 1996.

(2.) Heard the learned counsel for the petitioner and the learned counsel for the respondents.

(3.) The only ground raised by the petitioner is that notice was not received by the petitioner in the arbitration from the Arbitral Tribunal. The petitioner has also stated that the Arbitrator ought to have given an opportunity to the petitioner to settle the claim of the first respondent.