K. GANESH Vs. GALADA FINANCE LIMITED

JUDGEMENT

(1.) The third respondent in the arbitration proceedings before the Arbitral Tribunal is the petitioner before this Court. The challenge is to the award in C.P.No.KSG/20/2014 initiated by the first respondent herein.

(2.) The brief facts which have given rise to the above original petition are as follows:

(3.) The case of the claimant/first respondent is that the third respondent had committed default in the repayment of the Hire Purchase charges which was repayable in 36 equated monthly instalments being a sum of Rs.57,600/- per month for the instalment nos: 1 to 35 and Rs.56,000/- for the 36th instalment. The first respondent would contend that the vehicle was seized by them in view of the default committed by the third respondent in the payment of the monthly instalments. The first respondent had issued notice calling upon the respondents 3 and 4 to pay the sum of Rs.15,26,250/-. Though the said notice was received by both the respondents they had not come forward to clear the dues. The petitioner and the respondents 3 and 4 were served notice of arbitration by the first respondent herein in and by which the first respondent had demanded repayment of a sum of Rs.14,72,800/-, failing which they had informed the addressees that arbitration proceedings would be initiated. The notice sent to the respondents 3 and 4 were received by them. However, notice sent to the petitioner herein has been returned with the endorsement 'left'. The claimant had followed it up with some more notices. However there was no response from the respondents 3 and 4 as well as the petitioner. The notices which have been sent to the petitioner have been returned with the endorsement 'left'.