LOOT (INDIA) PVT. LTD. Vs. RELIANCE CAPITAL LIMITED

JUDGEMENT

(1.) By consent the matters were heard finally on 12 and 13 June 2013 and as the common parties and issues are involved, heard accordingly and therefore this common Judgment.

(2.) The Petitionersoriginal Respondents, Borrowers Guarantors, have invoked Section 34 of the Arbitration and Conciliation Act, 1996 (for short, the Arbitration Act), and thereby challenged an exparte award dated 15 June 2012 passed by the sole Arbitrator, (Respondent No.2) and in favour of the Financer CompanyRespondent No.1. (for short, "the financer").

(3.) The operative part of the Award is as under: